Ghose 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 2011 are as follows.
Production Data Basketballs Units Percent
Complete
Work in process 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 costs
600
$1,350
Direct materials 2,400
Direct labor 1,580
Manufacturing overhead 1,060 The equivalent units of production for materials and conversion.
Materials 1,500
Conversion costs 1,080
The unit costs of production for materials and conversion costs.
Unit cost Materials $ 2.10
Unit cost Conversion costs $ 3.00
The assignment of costs to units transferred out and in process at the end of the period.
Costs accounted for
Transferred out $ 4,590
Work in process, July 31
Materials $1,260
Conversion cost $540 $1,800
Total costs $6,390
I am having trouble figuring out the rest of this problem, which is the cost report for this company. Can you help, please???
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