The cutting department of Groneman Manufacturing has the following production and cost data for July Production 1. Transferred out 12,400 units. 2. Started 2,800 units that are 60% Costs Beginning work in process Materials Labour Manufacturing overhead s0 39,520 15,700 13,868 complete in terms of conversion costs and 100% complete in terms of materials at July 31, Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs Total equivalent units Calculate the unit costs for the month. (Round unit costs to 2 decimal places, e.g. 15.25.) Unit costs Materials Conversion costs Prepare a cost reconciliation schedule Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs Total costs