Problem 21-5A 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. Production DataBasketballs Units Percent Complete Work in process units, July 1 400 60 % Units started into production 1,090 Work in process units, July 31 540 40 % Cost DataBasketballs Work in process, July 1 Materials $760 Conversion costs 590 $1,350 Direct materials 2,630 Direct labor 1,590 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 $ $ 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 $ Work in process, July 31 Materials $ Conversion costs Total costs $ 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 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Costs Materials Conversion Costs Total Unit costs Costs in July $ $ $ 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 $