The Cutting Department of Sheridan Company has the following production and cost data for July. Production Costs 1. Completed and transferred out 11,040 units. Beginning work in process $0 2,760 units in ending working in process are 60% 2. complete as to conversion costs and 100% Direct materials 55,200 complete as to materials at July 31. Direct labor 14,904 Manufacturing overhead 16,836 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. (a) (b1) (b2) Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to O decimal places, eg. 1,225.) Cost Reconciliation Costs accounted for Completed and Transferred out $ Work in process, July 31 Materials Conversion costs Total costs $The Cutting Department of Sheridan Company has the following production and cost data for July. Production Costs 1 Completed and transferred out 11,040 units. Beginning work in process $0 2,760 units in ending working in process are 60% 2 complete as to conversion costs and 100% Direct materials 55,200 complete as to materials at July 31. Direct labor 14,904 Manufacturing overhead 16,836 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. (a) (b1) Your answer is incorrect. Compute unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion costs