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Solved by verified expert :Problem 16-3ASeagren 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 DepartmentProduction Data—July Plant 1T12-Tables Plant 2C10-ChairsWork in process units, July 1 0 0Units started into production 26,220 22,080Work in process units, July 31 4,140 690Work in process percent complete 60 80 Cost Data—July Work in process, July 1 \$0 \$0Materials 524,400 397,440Labor 323,196 151,800Overhead 143,520 133,446 Total \$991,116 \$682,686For each plant:(1) Compute the physical units of production. T12 Tables C10 ChairsUnits to be accounted for (2) Compute equivalent units of production for materials and for conversion costs. Materials Conversion CostsT12 Tables C10 Chairs (3) Determine the unit costs of production. (Round unit costs to 0 decimal places, e.g. 25.) Materials Conversion Costs Total CostsUnit costs-T12 Tables \$ \$ \$Unit costs-C10 Chairs \$ \$ \$(4) Show the assignment of costs to units transferred out and in process.T12 TablesCosts accounted for: Transferred out \$ Work in process Materials \$ Conversion costs Total costs \$C10 ChairsCosts accounted for: Transferred out \$ Work in process Materials \$ Conversion costs Total costs \$Prepare the production cost report for Plant 1 for July 2014.SEAGREN INDUSTRIES INC.Cutting Department—Plant 1Production Cost ReportFor the Month Ended July 31, 2014 Equivalent Units Quantities PhysicalUnits Materials ConversionCosts Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Costs Materials ConversionCosts TotalUnit costs Total Costs \$ \$ \$ Equivalent units Unit costs \$ \$ \$ Costs to be accounted for Work in process, July 1 \$ Started into production Total costs \$ Cost Reconciliation Schedule Costs accounted for Transferred out \$ Work in process, July 31 Materials \$ Conversion costs Total costs

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