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

Production DataBicycles		Units		Percentage Complete as to Conversion Costs
Work in process units, March 1		190		80	%
Units started into production		1,300
Work in process units, March 31		310		40	%

Cost DataBicycles
Work in process units, March 1		$19,040
Costs added during March
Direct materials		50,700
Direct labor		25,900
Manufacturing overhead		29,396

Production DataTricycles		Units		Percentage Complete as to Conversion Costs
Work in process units, March 1		120		75	%
Units started into production		1,010
Work in process units, March 31		60		25	%

Cost DataTricycles
Work in process units, March 1		$6,320
Costs added during March
Direct materials		30,300
Direct labor		14,500
Manufacturing overhead		20,325

A1) Calculate the equivalent units of production for materials and conversion costs for both the bicycles and the tricycles.

		Materials		Conversion Costs
Equivalent Units of bicycles
Equivalent Units of tricycles

A2) Calculate the unit costs of production for materials and conversion costs for both the bicycles and tricycles.

		Materials		Conversion Costs
Unit costs of bicycles
Unit costs of tricycles

A3)

B)

Part 3 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 Costs accounted for: Transferred out Work in process, March 1 Materials $ Conversion costs Total costs e Textbook and Media Part 4 Prepare a production cost report for the month of March for the bicycles only. (Round unit costs to 3 decimal places, e.g. 25.123 and all other answers to O decimal places, e.g. 2,520.) OWEN COMPANY Production Cost Report-Bicycles For the Month Ended March 31 Physical Units Equivalent Units Conversion Materials Costs Quantities 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 Conversion Costs Materials Total Costs 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 complete beginning inventory Started and completed $ Work in process, March 31 Materials Conversion costs Total costs $