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Calculate the equivalent units of production for materials

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Question - 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

440

60%

Units started into production

1,120

Work in process units, July 31

580

40%

Cost Data-Basketballs

Work in process, July 1


    Materials

$780

    Conversion costs

620

$1,400

Direct materials

2,030

Direct labor

1,710

Manufacturing overhead

1,010

Calculate the equivalent units of production for materials and conversion costs.

Calculate the unit costs of production for materials and conversion costs.

Reference no: EM131651431

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