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

Work in process units, July $1/570/60\%$

Units started into production $/1,260/0\%$

Work in process units, July $31/600/40\%$

Cost Data$$Basketballs

Work in process, July $1$

Materials: $$780$

Conversion costs: $$560$

Total $$1340$

Direct materials $$2880$

Direct labor: $$1240$

Manufacturing overhead: $$1140$

INSTRUCTIONS:

$1.)$ Calculate the equivalent units of production for materials and conversion costs.

Equivalent Units for Materials: $\_\_\_\_\_$

Equivalent Units for Conversion costs: $\_\_\_\_\_$

$2.)$ Calculate the unit costs of production for materials and conversion costs. $($Round unit costs to $2$ decimal places, e$.$g$.2\mathrm{.}25.)$

Cost per unit for materials: $$\_\_\_\_\_\_$

Cost per unit for conversion costs: $$\_\_\_\_\_$

$3.)$ 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 $$\_\_\_\_\_\_\_\_$

$4.)$ Prepare a production cost report for the month of July for the basketballs. $($Round unit costs to $2$ decimal places, e$.$g$.2\mathrm{.}25$ and all other answers to $0$ decimal places, e$.$g$.2,250.)$