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. Determine equivalent units and unit costs.

pare a production cost report for the ably Department. 69,000 P3.5A (LO 3, 4), AP 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. Determine equivalent units and unir costs and assign costs. Percentage Complete 60% Units 500 1,000 600 40% Production DataBasketballs Work in process units, July 1 Units started into production Work in process units, July 31 Cost DataBasketballs Work in process, July 1 Materials $750 Conversion costs Direct materials Direct labor Manufacturing overhead 600 $1,350 2.400 1.580 1.240 $2.10 a. 2. Materials 3. Transferred out WIP Instructions a. Calculate the following. 1. The equivalent units of production for materials and conversion costs. 2. The unit costs of production for materials and conversion costs. 3. The assignment of costs to units transferred out and in process at the end of the accounting period. b. Prepare a production cost report for the month of July for the basketballs. $4,590 $1,980