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 T12-Tables 0 Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 24,200 3,630 60 Cost Data-July Work in process, July 1 Materials Labor $0 459,800 283,624 125,840 $869,264 Overhead Total Show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out Work in process Materials $ 68970 Conversion costs Total costs $ (b) Prepare the production cost report for July 2020