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. Production Data-Basketballs Units Percent Complete 500 60 % Work in process units, July 1 Units started into production Work in process units, July 31 1000 600 4096 Cost Data-Basketballs Work in process, July Materials $ 750 Conversion costs 800 S 1.350 Direct materials 2400 Direct labor 1580 Manufacturing overhead 1240 Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units 1500 1140 eTextbook and Media Your Answer Correct Answer Calculate the unit costs of production for materials and conversion costs. (Round unit costs to 2 decimal places, eg 2.25.) Materials Conversion Costs Cost per unit $ 210 $ 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 S POLK COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Physical Units Conversion Costs Quantities Materials Units to be accounted for Workin process, July 1 Started into production Total units Units accounted for Transferred out Workin process July 31 Total units Cost Materials Conversion Costs Unit costs Total costs Equivalent units Unit costs $1 Costs to be counted for Work in DESCRSS, July 1 $ Started into production Tocal costs Cost Reconciliation Schedule Costs accounts for Transferred out Work in process, July 31 Materias Conversion Sot Total cos Materials Conversion Costs Total $ M $ 3