Beginning of the production process

Reference no: EM131812564

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 Data-Basketballs		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 Data-Basketballs
Work in process, July 1
Materials	$760
Conversion costs	590	$1,350
Direct materials		2,630
Direct labor		1,590
Manufacturing overhead		1,110

(a) Calculate the following

(1) The equivalent units of production for materials and conversion costs.

(2) The unit costs of production for materials and conversion costs.

(3) The assignment of costs to units transferred out and in process at the end of the accounting period.

(b) Prepare a production cost report for the month of July for the basketballs.

Please so formula not just the anwser

Reference no: EM131812564

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