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Please help with the questions I got wrong. I only have one more shot at this. Thanks in advance Polk Company manufactures basketballs. Materials are
Please help with the questions I got wrong. I only have one more shot at this. Thanks in advance
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. Percent Units Complete 600 6096 1.250 500 40% 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 Materials Conversion costs Direct materials Direct labor Manufacturing overhead $770 610 $1.380 2,005 465 1.250 Your answer is correct. Calculate the equivalent units of production for materials and conversion costo Materials Conversion Costs 1850 1550 Equivalent Units Your answer is correct. Calculate the unit costs of production for materials and conversion costs. (Round unit costs to 2 decimal places, es. 2.25.) Materials Conversion Costs Cost per unit $ 1.50 $ 1.50 e Textbook and Media X Your answer is incorrect. 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 Textbook and Media X Your answer is incorrect. Prepare a production cost report for the month of July for the basketballs. (Round unit costs to 2 decimal places, eg: 225 and all other answers to decimal places, eg. 2,250.) POLK COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities 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 Costs Unit costs Materials Conversion Costs Total 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 e Textbook and Media Step by Step Solution
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