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 24,800 Work in process units, July 31 3,720 Work in process percent complete 0 60 Cost Data-July Work in process, July 1 Materials Labor Overhead Total $0 471,200 290,656 128,960 $890,816 Part 1 Compute the physical units of production T12 Tables Units to be accounted for 24.800 Save for Later Attempts: 0 of 1 used Sot Amic Part 2 Compute equivalent units of production for materials and for conversion costs Materials Conversion Costs T12 Tables 24800 Part 2 Compute equivalent units of production for materials and for conversion costs Conversion Costs Materials 24.800 T12 Tables Save for lates Attempts:0 of 1 used Submit Answer Part 3 Determine the unit costs of production Materials Conversion Costs Total Costs Unit costs T12 Tables Saw for Attempts: 0 of 1 used SAW Part 4 Show the ansignment of costs to units transferred out and in process T12 Tables Costs accounted for Transferred out Work in process Materials Conversion costs Total costs 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 Ser for at Attempts: 0 of 1 used Submit AS Part 5 Prepare the production cost report for July 2020 THAKIN INDUSTRIES INC. Cutting Department Plant 1 Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Workin proces, July 1 Started into production Total units Units THAKIN INDUSTRIES INC. Cutting Department-Plant 1 Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Workin process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Materials Conversion Costs Tot Costs Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, July 1 Started into production 31 Total units Costs Unit costs Materials Conversion Costs Tot 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 Attempts: Oof 1 used
