The attached data pertain to a production center of Chippewa Company, a manufacturer of garbage bins, for the month of August. The ending inventory consisted of 6,000 units which were 80% complete as to materials and 20% complete as to conversion costs. REQUIRED: Prepare the following attached schedules for the cost of production report for Chippewa Company using the FIFO method. (1) Schedule of Physical and Equivalent Units. (2) Unit Cost Analysis Schedule (round unit costs to four decimal places). (3) Cost Summary Schedule (round all dollar amounts to the nearest whole dollar). CHIPPEWA COMPANY DATA FOR PREPARATION OF COST OF PRODUCTION REPORT FOR MONTH OF AUGUST Work in Process Inventory, August 1: (100% complete as to materials and 40% as to conversion costs) Number of Units 4,200 Direct Materials Cost $ 6,932 Direct Labor Cost $ 2,526 Manufacturing Overhead Applied ($6.00 per machine hour) $ 3,542 Units Started in August 11,600 Costs Incurred in August: Direct Materials Cost $ 17,400 Direct Labor Cost $ 24,000 Manufacturing Overhead Applied (6,000 machine hours incurred)