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 0 Units started into production 20,000 Work in process units, July 31 3,000 Work in process percent complete 60 Cost DataJuly Work in process, July 1 $0 Materials 380,000 Labor 234,400 Overhead 104,000 Total $718,400 Compute the physical units of production. Units to be accounted for T12 Tables 20,000 Your answer is correct. Compute equivalent units of production for materials and for conversion costs. Materials T12 Tables 20000 Conversion Costs 18800 Determine the unit costs of production. Unit costs-T12 Tables GA Materials 19 SA Conversion Costs 18 $ Total Costs 37 Show the assignment of costs to units transferred out and in process. Costs accounted for: Transferred out Work in process Materials +A T12 Tables 343617 Conversion costs Total costs A 32400 LA 649617 306000 68782