Part IV - Problem - Process Costing. Total = 30 points. The Whitecotton Company manufacturers a product that goes through two departments. During the month of July, 2020 the following data was recorded for the mixing department. Units Materials Labor Overhead Units in beginning WIP 6,000 Units started during July 40,000 Units completed 34,000 Units in ending WIP 12,000 Costs in beginning WIP $54,000 $20,000 $10.000 Costs added during July $314,000 $624,000 $230,000 The ending work in process was 100% complete with respect to materials and 50% complete with respect to labor and overhead. Prepare a Production Cost Report for August, 2019 Production Cost Report Mixing Department July, 2020 Step 1 - Reconcile units Unit Reconciliation: Units in Beginning WIP Units started during August Units to account for Units completed and transferred Units in Ending WIP Units accounted for Step 2 - Equivalent units Material Labor Overhead Units: Units completed: EU, WIP Totals (EU) Step 3 - Add costs and compute cost per equivalent unit Cost per Equivalent Unit Calculation: Material Labor Overhead Total Cost: Beginning WIP Cost incurred -July Totals 3 Equivalent units Cost per EU