Problem 16-03A 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 Production DataJuly Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete Cost DataJuly Work in process, July 1 Materials Labor Overhead Total Compute the physical units of production. T12 Tables Units to be accounted for 24,000 T12-Tables 0 24,000 3,600 60 $0 456,000 281,280 124,800 $862,080 Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables 24000 Determine the unit costs of production. Materials Unit costs-T12 Tables Conversion Costs Total Costs $