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Oriole Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for
Oriole 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 DataBasketballs | Units | Percent Complete | |||||
| Work in process units, July 1 | 500 | 60 | % | ||||
| Units started into production | 1,350 | ||||||
| Work in process units, July 31 | 500 | 40 | % | ||||
| Cost DataBasketballs | |||||||
| Work in process, July 1 | |||||||
| Materials | $750 | ||||||
| Conversion costs | 630 | $1,380 | |||||
| Direct materials | 2,395 | ||||||
| Direct labor | 785 | ||||||
| Manufacturing overhead | 1,220 | ||||||
(a1)
Calculate the equivalent units of production for materials and conversion costs.
| Materials | Conversion Costs | |||
| Equivalent Units |
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