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 Production Data-Basketballs Units Complete Work in process units, July 1 500 60 % Units started into production 1,000 Work in process units, July 31 600 40 % Cost Data-Basketballs Work in process, July 1 Materials $750 Conversion costs 600 $1,350 Direct materials 2,400 Direct labor 1,580 Manufacturing overhead 1,240 Calculate the equivalent units of production for materials and conversion costs. Equivalent Units Materials 1.500 Conversion Costs 1,140