Problem 21-3A al-a4, b (Part Level Submission) (Video) Sheffield 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 0 Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 24,800 3,720 60 Cost Data-July Work in process, July 1 Materials Labor $0 471,200 290,656 128,960 $890,816 Overhead Total (a1) Your answer is correct. Compute the physical units of production. T12 Tables Units to be accounted for 24800 (a2) Your answer is correct. Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables 24800 23312 SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT (a3) Your answer is correct. Determine the unit costs of production. Materials Conversion Costs Total Costs Unit costs-T12 Tables 19 18 37 $ $ (a4) Your answer is correct. Show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out 779960 $ Work in process Materials 70680 $ Conversion costs 40176 110856 Total costs 890,816 (b) Prepare the production cost report for July 2020. SHEFFIELD INDUSTRIES INC. Cutting Department Plant 1 Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Physical Conversion Units Materials Costs Quantities 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 Costs Costs Materials Total 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 $