Banta Company manufactures basketbal Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cont data for the month of July 2020 are as follows Percent Production Data-Basketballs Complete Work in process units, July 1 550 Unit started into production 1,400 Work in process units, July 31 800 40 Cost Data-Sankethalle Work in process, July 1 Materials $750 Conversion costs 610 $1,360 Direct materials 2,370 Direct labor Mechaning overhand 1,250 Your answer is correct. Calculate the equivalent units of production for materials and conversion costs Materials Conversion Costs Equivalent Units 1950 1590 Calculate the assignment of costs to units transferred out and in process at the end of the accounting period. Costs accounted for: Transferred out 4320 Work in process, July 31 Materials 960 Conversion costs 384 1344 Total costs 5664 Prepare a production cost report for the month of July for the basketballs. (Round unit costs to 2 decimal place BONITA COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Physical Conversion Quantities Units Materials Costs 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 Materials Costs Unit costs Conversion Costs Total Total costs Equivalent units Unit costs Costs to be accounted for Work in process, July 1 Started into production Total costs Work in process, July 31 Total units Materials Conversion Costs Total Costs 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 Work in process, July 31 Materials Conversion costs Total costs