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 Complete Production Data-Basketballs Units 490 Work in process units, July 1 60 % Units started into production 1,420 Work in process units, July 31 500 40 96 Cost Data-Basketballs Work in process, July 1 Materials $800 Conversion costs 600 $1,400 Direct materials 2.638 Direct labor 1,188 Manufacturing overhead 1.110 x Your answer is incorrect. Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units 1500 1140 x Your answer is incorrect Calculate the unit costs of production for materials and conversion costs. (Round unit costs to 2 decimal places, og 2.25.) Materials Conversion Costs Cost per unit 2.10 300 Calculate the assignment of costs to units transferred out and in process at the end of the accounting period. Costs accounted for: $ 4590 Transferred out Work in process, July 31 1260 Materials 1980 720 Conversion costs O! 6570 Total costs Your answer is partially correct. Prepare a production cost report for the month of July for the basketballs. (Round unit costs to 2 decimal places, eg. 2.25 and all other answers to 0 decimal places, eg. 2,250.) POLK COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Physical Units Conversion Costs Materials 400 1090 1490 990 990 990 500 500 200 POLK COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2020 Equivalent Units Physical Units Conversion Costs Materials Quantities Units to be accounted for 400 Work in process, July 1 1090 Started into production 1490 Total units Units accounted for 990 990 990 Transferred out 200 500 500 Work in process, July 31 1190 1490 1490 Total units Conversion Costs Materials Costs Unit costs 2737 3427 Total costs 1190 1490 Equivalent units 2.30 2.30 Unit costs Costs to be accounted for Work in process. July 1 Started into production Total costs SER tv Cost Reconciliation Schedule Costs accounted for Transferred out $1 Work in process, July 31 1 ISO Materials 460 Conversion costs Total costs