Waterway 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
Production DataJuly		T12-Tables
Work in process units, July 1		0
Units started into production		25,000
Work in process units, July 31		3,750
Work in process percent complete		60
Cost DataJuly
Work in process, July 1		$0
Materials		475,000
Labor		293,000
Overhead		130,000
Total		$898,000

Compute the physical units of production.

		T12 Tables
Units to be accounted for		enter a number of units

eTextbook and Media

Compute equivalent units of production for materials and for conversion costs.

		Materials		Conversion Costs
T12 Tables		enter a number of units		enter a number of units

eTextbook and Media

Determine the unit costs of production.

		Materials		Conversion Costs		Total Costs
Unit costs-T12 Tables		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount

eTextbook and Media

Show the assignment of costs to units transferred out and in process.

T12 Tables
Costs accounted for:
Transferred out		$enter a dollar amount
Work in process
Materials	$enter a dollar amount
Conversion costs	enter a dollar amount	enter a subtotal of the two previous amounts
Total costs		$enter a total amount

eTextbook and Media

Prepare the production cost report for July 2020.

WATERWAY INDUSTRIES INC. Cutting DepartmentPlant 1 Production Cost Report For the Month Ended July 31, 2020
				Equivalent Units
Quantities		Physical Units		Materials		Conversion Costs
Units to be accounted for
Work in process, July 1		enter a number of units
Started into production		enter a number of units
Total units		enter a total number of units
Units accounted for
Transferred out		enter a number of units		enter a number of units		enter a number of units
Work in process, July 31		enter a number of units		enter a number of units		enter a number of units
Total units		enter a total number of units		enter a total number of units		enter a total number of units
Costs				Materials		Conversion Costs		Total
Unit costs
Total Costs				$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Equivalent units				enter a number of units		enter a number of units
Unit costs				$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Costs to be accounted for
Work in process, July 1								$enter a dollar amount
Started into production								enter a dollar amount
Total costs								$enter a total of the two previous amounts
Cost Reconciliation Schedule
Costs accounted for
Transferred out								$enter a dollar amount
Work in process, July 31
Materials						$enter a dollar amount
Conversion costs						enter a dollar amount		enter a subtotal of the two previous amounts
Total costs								$enter a total amount