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Bramble Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for
Bramble 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. 58:39 Hide Timer Production Data-Basketballs Percent Complete Units Work in process units, July 1 400 60% Units started into production 1,090 Work in process units, July 31 500 40% Cost Data-Basketballs Work in process, July 1 Materials $760 Conversion costs 590 $1,350 Direct materials 2,667 1,037 Direct labor Manufacturing overhead 1,110 Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units Calculate the unit costs of production for materials and conversion costs. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion Costs Cost per unit $ 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 Prepare a production cost report for the month of July for the basketballs. (Round unit costs to 2 decimal places, e.g. 2.25 and all other answers to decimal place Physical Units Conversion Costs Quantities Materials 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 Conversion Costs Costs Materials Total 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 Transferred out Work in process, July 31 Materials Conversion costs Total costs
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