Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and Compute the physical units of production.

T$12$ Tables

Units to be accounted for

Compute equivalent units of production for materials and for conversion costs.

T$12$ Tables

Determine the unit costs of production.

Show the assignment of costs to units transferred out and in process.

T$12$ Tables

Costs accounted for:

Transferred out

Work in process

Materials $,$$

Conversion costs

Total costs

$ Prepare the production cost report for July $2020.$

THAKIN INDUSTRIES INC.

Cutting Department$$Plant $1$

Production Cost Report

For the Month Ended July $31,2020$

Total units Conversion

Materials

Costs

Tot

Unit costs

Costs to be

accounted for

Work in

process, July $1$

Started into

productionCost

Reconciliation

Schedule

Costs

accounted for

Transferred

out

Work in

process, July

$31$

Materials

$

Conversion

costs

Total costs

conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows.