Prepare the production cost report for July 2020. THAKIN INDUSTRIES INC. Cutting Department Plant 1 Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Physical Units Conversion Costs Quantities Materials Units to be accounted for Work in process, July 1 0 0 Started into production 23200 Total units 23200 Units accounted for Transferred out Work in process, July 31 3480 3480 2088 Total units 23200 23200 23200 Conversion Costs Costs Materials Total Unit costs Total Costs $ 440.800 $ $ 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 $ Save for Later Attempts: 0 of 1 used Submit Answer 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. Cutting Department T12-Tables Production Data-July Work in process units, July 1 0 Units started into production 23,200 Work in process units, July 31 3.480 Work in process percent complete 60 Cost Data-July $0 Work in process, July 1 Materials Labor 440,800 271,904 120,640 Overhead Total $833,344 Part 1 Compute the physical units of production. T12 Tables Units to be accounted for Save for Later Attempts: 0 of 1 used Submit Answer Part 2 Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables Save for Later Attempts: 0 of 1 used Submit Answer Part 3 Determine the unit costs of production. Materials Conversion Costs Total Costs Unit costs-T12 Tables - $ $ Save for Later Attempts: 0 of 1 used Submit