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 2017 are as follows. Production DataBasketballs Units Percent Complete Work in process units, July 1 500 60 % Units started into production 1,320 Work in process units, July 31 510 40 % Cost DataBasketballs Work in process, July 1 Materials $740 Conversion costs 640 $1,380 Direct materials 2,000 Direct labor 1,910 Manufacturing overhead 1,260 Incorrect answer. Your answer is incorrect. Try again. Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units Entry field with incorrect answer now contains modified data Entry field with incorrect answer LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Calculate the unit costs of production for materials and conversion costs. (Round unit costs to 3 decimal places, e.g. 2.257.) Materials Conversion Costs Cost per unit $Entry field with incorrect answer $Entry field with incorrect answer LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Calculate the assignment of costs to units transferred out and in process at the end of the accounting period. (Round answers to 0 decimal places, e.g. 2,250.) Costs accounted for: Transferred out $Entry field with incorrect answer now contains modified data Work in process, July 31 Materials $Entry field with incorrect answer now contains modified data Conversion costs Entry field with incorrect answer now contains modified data Entry field with incorrect answer Total costs $Entry field with incorrect answer now contains modified data LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Prepare a production cost report for the month of July for the basketballs. (Round unit costs to 3 decimal places, e.g. 2.257 and all other answers to 0 decimal places, e.g. 2,250.) POLK COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2017 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process, July 1 Entry field with incorrect answer Started into production Entry field with incorrect answer Total units Entry field with incorrect answer Units accounted for Transferred out Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Work in process, July 31 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Total units Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Costs Materials Conversion Costs Total Unit costs Costs in July $Entry field with incorrect answer $Entry field with incorrect answer $Entry field with incorrect answer Equivalent units Entry field with incorrect answer Entry field with incorrect answer Unit costs $Entry field with incorrect answer $Entry field with incorrect answer $Entry field with incorrect answer Costs to be accounted for Work in process, July 1 $Entry field with incorrect answer Started into production Entry field with incorrect answer Total costs $Entry field with incorrect answer Cost Reconciliation Schedule Costs accounted for Transferred out $Entry field with incorrect answer Work in process, July 31 Materials $Entry field with incorrect answer Conversion costs Entry field with incorrect answer Entry field with incorrect answer Total costs