Problem 21-3A Thakin Industries Inc. manufactures dorm furniture in separate processes. In ea manufacturing plants are as follows. Cutting Department Plant 1 Plant 2 T12-Tables C10-Chairs Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 21,000 3,000 60 19,000 600 80 $0 Cost Data-July Work in process, July 1 Materials Labor Overhead 378,000 234,700 101,900 $714,600 $0 285,000 105,500 102,180 $492,680 Total For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for 21,000 19,000 For each plant compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables 21,000 C10 Chairs 19,000 For each plant determine the unit costs of production. Materials Conversion Costs Total Costs Unit costs-T12 Tables 18.00 Unit costs-C10 Chairs 15.00 For each plant show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out $ Work in process Materials $ 54,000 Conversion costs Total costs C10 Chairs Costs accounted for: Transferred out Work in process Materials 9,000 Conversion costs Total costs Prepare the production cost report for Plant 1 for July 2017. THAKIN INDUSTRIES INC. Cutting Department Plant 1 Production Cost Report For the Month Ended July 31, 2017 Equivalent Units Physical Units Conversion Costs Quantities Materials 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 Materials Total Costs 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 TA Work in process, July 31 Materials ta Conversion costs Total costs $ Click if you would like to Show Work for this question: Open Show Work