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Please explain how you arrived at the calculations Problem 16-3A Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered

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Please explain how you arrived at the calculations

Problem 16-3A Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process making two products in two different manufacturing plants are as follows. Cutting Department Plant Plan c10-Chairs Production Data-July 12-Lables Work in process units, July1 0 Units started into production 24,000 19,200 Work in process units, July 31 3,600 600 Work process percent complete 30 .. 80 Cost Data-July Work in process, July 1 50 50 Materials 456.000 345,600 Labor 281,280 132,000 Overhead 124,800 125,760 $862,080 $603,360 Total For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for For each plant compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables C10 Chairs For each plant determine the unit costs of production. (Round unit costs to decimal places, e.g. 5.25.) Total Costs Materials Conversion Costs Unit costs-T12 Tables Unit costs-C10 Chairs T12 Tables Costs accounted for: Transferred out Work in process Materials Conversion costs. Total costs C10 Chairs Costs accounted for: Transferred out Work in process Materials Conversion costs Total costs Prepare the production cost report for Plant 1 for July 2017. THAKIN INDUSTRIES INC Cutting Department Plant 1 Production Cost Report For the Month Ended July 31, 2017 Equivalent Units Conversion Physical Units Quantities Materials Costs Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Conversion Total Materials Costs Costs Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, July 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs Total costs

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