Seagren Industries Inc_Process costing_Equivalent units

Seagren Industries Inc. manufactures in separate processes furniture for homes. 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 two products in two different manufacturing plants are as follows.

Cutting Department
Production Data—July                   Plant 1 T12-Tables              Plant 2 C10-Chairs
Work in process units, July 1                     –0–                                         –0–
Units started into production                      19,000                                    16,000
Work in process units, July 31                    3,000                                         500
Work in process percent complete                  60                                          80
Cost Data—July
Work in process, July 1                               –0–??$                                   –0–??$
Materials                                                        380,000                                  288,000
Labor                                                              234,200                                  110,000
Overhead                                                      104,000                                    96,700
Total                                                               $718,200                               $494,700
Instructions
(a)
For each plant:
1. Compute the physical units of production.
2. Compute equivalent units of production for materials and for conversion costs.
3. Determine the unit costs of production.
4. Show the assignment of costs to units transferred out and in process.
(b) Prepare the production cost report for Plant 1 for July 2012.