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. Compute the physical units of production. eTextbook and Media Compute equivalent units of production for materials and for conversion costs. eTextbook and Media Determine the unit costs of production. Show the assignment of costs to units transferred out and in process. Prepare the production cost report for July 2020. CostsUnitcostsTotalCostsMaterialsConversionCosts Costs to be accounted for Work in process, July 1 Started into production Total costs Cost Reconciliation Schedule $ Cost Reconciliation Schedule Costs accounted for Transferred out Workin process, July 31 Materials Conversion costs Total costs $ $ $