Problem 16-05A 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 Units Production Data-Basketballs Work in process units, July 1 Units started into production Work in process units, July 31 Cost Data-Basketballs Work in process, July 1 Materials Conversion costs Direct materials Direct labor Manufacturing overhead 400 60 % 1,090 500 40 % $760 590 $1,350 2,667 1,037 1,110 Calculate the equivalent units of production for materials and conversion costs. Equivalent Units Materials Conversion Costs Calculate the unit costs of production for materials and conversion costs. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion Costs Cost per unit $ $ 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