Question 1 of 1 -/1 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. Units Percent Complete 500 60 % 1.000 600 40 % 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 $750 600 $1,350 2.400 Direct labor 1.580 Manufacturing overhead 1.240 er Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units 1,500 1.140 e Textbook and Media Your Answer Correct Answer (Used) 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 Calculate the assignment of costs to units transferred out and in process at the end of the accounting period. Costs accounted for: Transferred out 4,590 Work in process, July 31 Materials 1,260 Conversion costs 720 Total costs 6,570 e Textbook and Media Prepare a production cost report for the month of July for the basketballs. (Round unit costs to 2 decimal places, eg. 225 and all other answers to 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 Materials Quantities Units to be accounted for Workin process, July 1 500 Started into production 1.000 Total units 1.500 Question 1 of 1 -/1 Units accounted for Transferred out 1000 1,000 1,000 Work in process, July 31 500 500 500 Total units Costs Materials Conversion Costs TC Unit costs Total costs $ Equivalent units Question 1 of 1 -/1 E Unit costs Costs to be accounted for Work in process, July 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Cost Reconciliation Schedule Costs accounted for Transferred out $ Work in process, July 31 Materials Conversion costs Total costs $