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. Production Data-July Work in process units, July 1 Cutting Department T12-Tables Units started into production Work in process units, July 31 Work in process percent complete Cost Data July Work in process, July 1 Materials Labor Overhead Total 0 20,000 3,000 60 $0 380,000 234,400 104,000 $718,400