Unit cost of production for materials and conversion cost

Reference no: EM13320681

Ghouse company manufactures basketballs. Materials are added at the beginning of the production process and conversion cost are incurred uniformly. Production and cost data for the month of july 2011 are as follows

Production Data-Basketballs Units Percent Complete

Work in procuess units, July 1 500 60%

Units Started into production 1,000

Work in process units, July 31 600 30%

Cost Data - Basketballs

Work in Process, July 1

Materials 750

Conversion Cost 600 $1,350

Direct Materials $2,400

Direct Labor $1,580

Manufacturing Overhead $1,060

A) Calculate the

1) The equilvalent units of production for materials and conversion cost

2) The unit cost of production for materials and conversion cost

3) The assignment of cost to units transferred out and in process at thee end of the accounting period

B) Prepare a production cost report for the month of July for the basketballs

Reference no: EM13320681

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