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 20,200 3,030 60 Cost Data-July Work in process, July 1 Materials Labor Overhead Total $0 383,800 236,744 105,040 $725,584 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 Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Conversion Costs Materials Total Costs Unit costs 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 $ Save for Later Attempts: 0 of 1 used Submit