Coronado Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Coronado Company uses the FIFO method to compute equivalent units. Production and cost data for the month of March are as follows. Production Data-Bicycles Units Percentage Complete Work in process units, March 1 190 80 % Units started into production 1,400 Work in process units, March 31 310 40 % Cost Data-Bicycles Work in process units, March 1 $19,330 Direct materials 50,400 Direct labor 26,500 Manufacturing overhead 29,840 Manufacturing overhead 29.840 Percentage Production Data-Tricycles Units 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 $6,050 Direct materials 30,000 Direct labor 14,200 Manufacturing overhead 19,460 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. Bicycles Costs accounted for: Transferred out Work in process, March 31 Materials Conversion costs Total costs Tricycles Costs accounted for: Tricycles Costs accounted for: Transferred out Work in process, March 31 Materials Conversion costs Total costs 1800 510 2310 Calculate the equivalent units of production for materials and conversion costs for both the bicycles and the tricycles. Materials Equivalent Units of bicycles 1400 Equivalent Units of tricycles 1000 Conversion Costs 1252 990 Calculate the unit costs of production for materials and conversion costs for both the bicycles and the tricycles. Unit costs of bicycles Unit costs of tricycles Materials 36 30 Conversion Costs 45 34