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.

For each plant compute the physical units of production.

For each plant compute equivalent units of production for materials and for conversion costs.

For each plant determine the unit costs of production.

For each plant show the assignment of costs to units transferred out and in process.

Prepare the production cost report for Plant 1 for July 2017.

please include all answers and calculations. thank you

Cutting Department Plant 1 Plant 2 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 T12- Tables 20,500 3,200 60 18,500 500 80 Cost Data-July Work in process, July 1 Materials Labor Overhead $0 389,500 237,800 108,160 $735,460 $0 314,500 130,600 108,600 $553,700 Total Materials Conversion Costs T12 Tables C10 Chairs Materials Conversion Costs Total Costs Unit costs-T12 Tables Unit costs-C10 Chairs 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 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 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