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 Work in process units, July 31 3,450 Work in process percent complete 0 23,000 60 Cost Data-July Work in process, July 1 Materials Labor Overhead Total SO 437,000 269,560 119,600 $826,160 Part 1 Compute the physical units of production T12 Tables Units to be accounted for Save for Later Attempts: 0 of 1 used Submit Answer Part 2 Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables Save for Later Attempts: 0 of 1 used Submit Answer Part 3 Deermine the unit costs of production, Materials Conversion Costs Total Costs Unit costs-T12 Tables $ Save for Le Attempts: 0 of 1 used Submit Answer Part 4 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 $ Save for later Attempts: 0 of 1 used Submit Answer Part 5 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 process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 | Total units Conversion Costs Materials Costs Unit costs $ Total Costs Equivalent units Unit costs $ w $ Costs to be accounted for Work in process, July 1 Started into production Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred Jut Work in process, July 31 $ Materials