Please show all work and formulas.

P3.3A (LO 3, 4), AP 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 in making a product are as follows Complete four steps necessary to prepare a production cost report Cutting Department T12-Tables Production Data-July Work in process units, July 1 -0- Units started into production 20,000 Work in process units, July 31 3,000 Work in process percent complete 60 Cost Data July -0 Work in process, July 1 Materials 380,000 234,400 Labor 104,000 Overhead Total $718,400 Instructions a. 1. Compute the physical units of production 2. Compute equivalent units of production for materials and for conversion costs 3. Determine the unit costs of production 4. Show the assignment of costs to units transferred out and in process