Owen Company manufactures bicycles and tricycles. For bothproducts, materials are added at the beginning of the productionprocess, and conversion costs are incurred uniformly. Owen Companyuses the FIFO method to compute equivalent units. Production andcost data for the month of March are as follows.

Production Data—Bicycles		Units		Percentage Complete
Work in process units, March 1		200		80	%
Units started into production		1,430
Work in process units, March 31		300		40	%

Cost Data—Bicycles
Work in process units, March 1		$ 19,100
Direct materials		50,000
Direct labor		26,100
Manufacturing overhead		29,700

Production Data—Tricycles		Units		Percentage Complete
Work in process units, March 1		140		75	%
Units started into production		1,000
Work in process units, March 31		60		25	%

Cost Data—Tricycles
Work in process units, March 1		$ 6,300
Direct materials		30,200
Direct labor		14,200
Manufacturing overhead		19,900

Calculate the equivalent units of production for materials andconversion 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

Calculate the unit costs of production for materials andconversion 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

Calculate the assignment of costs to units transferred out andin process at the end of the accounting period for both thebicycles and the tricycles. (Round answers to 0 decimalplaces, e.g. 2,520.)

Bicycles

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

Tricycles

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

Prepare a production cost report for the month of March for thebicycles only. (Round unit costs to 3 decimal places,e.g. 25.123 and all other answers to 0 decimal places, e.g.2,520.)

OWEN COMPANY Production Cost Report—Bicycles For the Month Ended March 31
				Equivalent Units
Quantities		Physical Units		Materials		Conversion Costs
Units to be accounted for
Work in process, March 1
Started into production
Total units
Units accounted for
Completed and transferred out
Work in process, March 1
Started and completed
Work in process, March 31
Total units
Costs		Materials		Conversion Costs		Total
Unit costs
Costs in March		$		$		$
Equivalent units
Unit costs		$		$		$
Costs to be accounted for
Work in process, March 1				$
Started into production
Total costs				$
Cost Reconciliation Schedule
Costs accounted for
Transferred out
Work in process, March 1		$
Conversion costs to completebeginning inventory
Started and completed				$
Work in process, March 31
Materials
Conversion costs
Total costs				$