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*Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and

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*Problem 3-3A (Video) (Part Level Submission) 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 Data-July T12-Tables Work in process units, July 1 Units started into production 22,600 Work in process units, July 31 3,390 Work in process percent complete 60 Cost Data-July Work in process, July 1 $0 Materials 429,400 Labor 264,872 Overhead 117,520 Total $811,792 *(a1) Your answer is correct. Compute the physical units of production. T12 Tables Units to be accounted for 22600 Attempts: 2 of 3 used *(a2) Your answer is correct. Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables 22,600 121,244 Attempts: 1 of 3 used *(a3) Your answer is corn Determine the unit costs of production. Materials Conversion Costs Total Costs Unit costs-T12 Tables $ 19] $ 18 $ 37 Attempts: 1 of 3 used*(a4) Your answer is correct. Show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out $ 710770 Work in process Materials $ 64410 Conversion costs 36612 101022 Total costs $ 811792 Attempts: 1 of 3 used*(b) Prepare the production cost report for July 2020. THAKIN INDUSTRIES INC. Cutting DepartmentPlant 1 Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Physical Conversion Quantities Units Materials Costs 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 Costs 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 1? Conversion costs Total costs $

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