Attemptin Progress 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 2020 are as follows. Production Data-Basketballs Percent Complete Units 440 60 % 1,220 Work in process units, July 1 Units started into production Work in process units, July 31 Cost Data - Basketballs 500 40 % Work in process, July 1 Materials $780 Conversion costs 560 $1,340 Direct materials 2.208 Direct labor 668 Manufacturing overhead 1.220 Calculate the equivalent units of production for materials and conversion costs Materials Conversion Costs Equivalent Units e Textbook and Media Calculate the unit costs of production for materials and conversion costs. (Round unit costs to 2 decimal places, s. 225) Materials Conversion Costs s Cost per unit e Textbook and Media Calculate the assignment of costs to units transferred out and in process at the end of the accounting period. Costs accounted for: Transferred out Work in process, July 31 $ Materials Conversion costs Total costs e Testbook and Media Prepare a production cost report for the month of July for the basketball Round unit costs to 2 decimal places 225 and other answers to decimal places 2.250) POLK COMPANY Basketball Department Production Cost Report Prepare a production cost report for the month of July for the basketballs. (Round unit costs to 2 decimal places es 225 and all other answers to decimol ploces eg. 2250) POLK COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Physical Units Conversion Costs Quantities Materials Units to be accounted for Workin process. July 1 Started into production Total units Units accounted for Transferred out Work process July 31 Total units Conversion Costs Costs Materials Unit 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 Workin process, July 31 Materials Conversion