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 60 % Work in process units, July 1 , Units started into production 500 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 Part 1 Your answer is correct. Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units 1500 1140 e Textbook and Media Attempts: 2 of 5 used 5 Part 2 Your Answer Correct Answer (Used) Your answer is correct. 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 $ 2.10 $ 3.00 e Textbook and Media Solution Attempts: 4 of 5 used Part 3 Your Answer Correct Answer (Used) Your answer is correct. Calculate the assignment of costs to units transferred out and in process at the end of the accounting period. Costs accounted for: : Transferred out 4590 Work in process, July 31 Materials 1260 Conversion costs 720 1980 Total costs $ 6570 riepare TUULLUT LUDUTETTU MUTTU JUTTU TUNELURUUN THE LUDI WU Z ULTIPLES, C-3.2.2 ur 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 Quantities Materials Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Conversion Costs Costs Materials Unit costs Total costs $ $ Equivalent units Unit costs $ $ $ Costs to be accounted for Work in process, July 1 $ Started into production Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred $ out Work in process, July 31 Materials $ Conversion costs Total costs