Owen Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Owen Company uses the FIFO method to compute equivalent units. Production and cost data for the month of March are as follows.

Production DataBicycles		Units		Percentage Complete
Work in process units, March 1		200		80	%
Units started into production		1,000
Work in process units, March 31		300		40	%

Cost DataBicycles
Work in process units, March 1		$ 19,280
Direct materials		50,000
Direct labor		25,900
Manufacturing overhead		30,000

Production DataTricycles		Units		Percentage Complete
Work in process units, March 1		100		75	%
Units started into production		1,000
Work in process units, March 31		60		25	%

Cost DataTricycles
Work in process units, March 1		$ 6,125
Direct materials		30,000
Direct labor		14,300
Manufacturing overhead		20,000

Calculate the equivalent units of production for materials and conversion costs for both the bicycles and the tricycles. (Round answers to 0 decimal places, e.g. 2,520.)

		Materials		Conversion Costs
Equivalent Units of bicycles
Equivalent Units of tricycles

eTextbook and Media

• eTextbook

Calculate the unit costs of production for materials and conversion costs for both the bicycles and the tricycles. (Round unit costs to 3 decimal places, e.g. 25.215.)

		Materials		Conversion Costs
Unit costs of bicycles
Unit costs of tricycles

eTextbook and Media

Calculate the assignment of costs to units transferred out and in process at the end of the accounting period for both the bicycles and the tricycles. (Round answers to 0 decimal places, e.g. 2,520.) Bicycles

Costs accounted for:
Transferred out		$
Work in process, March 1
Materials	$
Conversion costs
Total costs		$

Tricycles

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