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 two products in two different manufacturing plants are as follows. Cutting Department Plant 1Plant 2 Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 T12-Tables C10-Chairs 0 0 23.40018 720 3,510 585 80 Work in process percent complete 60 Cost Data-July Work in process, July 1 Materials Labor Overhead so 444,600 336,960 274.248128,700 121.680 122,616 $840,528 $588.276 $o Total For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for putt the plysieal units of production T12 Tables C10 Chairs Units to be accounted for For each plant compute equivalent units of production for materials and for conversion costs Materials Conversion Costs T12 Tables C10 Chairs For each plant determine the unit costs of production. (Round unit costs to 2 decimal places, eg.5.25) Conversion Costs Total Costs Materials Unit costs-T12 Tables$ Unit costs-C10 Chairs$ 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 Conversion costs Total costs C10 Chairs Costs accounted for: Transferred out Work in process Materials Conversion costs Total costs duction 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 Conversiorn Costs Quantities Units to be accounted for Materials Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Total Costs Materials Costs Unit costs Conversiorn 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 Scheduloe Costs accounted for Transferred out Work inn process, July 31 .edujeburses/1/31/assignments/2893182module.item.id 679701 Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs Total costs