16-5A

Problem 16-5A Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2017 are as follows. Percent Units Complete Production Data-Basketballs Work in process units, July 1 Units started into production Work in process units, July 31 Cost Data-Basketballs Work in process, July 1 60% 500 1,000 600 40% Materials $750 Conversion costs Direct materials Direct labor Manufacturing overhead 600 1,350 2,400 1,580 1,240 Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units LINK TO TEXT Calculate the unit costs of production for materials and conversion costs. (Round unit costs to 3 decimal places, e.g. 2.257.) Materials Conversion Costs Cost per unit LINK TO TEXT Calculate the assignment of costs to units transferred out and in process at the end of the accounting period. (Round answers to O decimal places, e.g. 2,25o.) Costs accounted for: Transferred out Work in process, July 31 Materials Conversion costs Total costs