Problem 16-5A 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. cent Complete Production Data-Basketballs Units Work in process units, July 1 490 60 % Units started into production 1,420 Work in process units, July 31 530 40% Cost Data-Basketballs Work in process, July 1 Materials $800 600 Conversion costs $1.400 Direct materials Direct labor 2.710 1750 Manufacturing overhead 1,110 Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units 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 units transferred out and in process at the end of the accounting period. (Round answers to 0 decimal places, e.g. 2,250.) Calculate the assignment of costs Costs accounted for: Transferred out Work process, July 31 Materials Conversion costs Total costs POLK COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2017 Equivalent Units Conversion Physical Units uantities Materials Costs be accounted for nits Work in process, July 1 Started into production Total units nits accounted for Transferred out Work in process, July 31 Total units Materials Total Costs Costs Unit costs July Costs $ Equivalent units Unit costs Costs to be accounted for Work in process, July 1 S Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs Total costs