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How do I calculate the unit costs of production? Owen Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of

How do I calculate the unit costs of production?

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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. Percentage Production DataBicycles Units Complete Work in process units, March 1 200 80 % Units started into production 1,330 Work in process units, March 31 290 40 96 Cost DataBicycles Work in process units, March 1 $19,300 Direct materials 50,540 Direct labor 26,400 Manufacturing overhead 29,8 12 Percentage Production DataTricycles % Complete Work in process units, March 1 100 75 % Units started into production 1,000 Work in process units, March 31 60 25 % Cost DataTricydes Work in process units, March 1 $6,360 Direct materials 30,000 Direct labor 14,300 Manufacturing overhead 20.000 Your answer is correct. 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 1330 1196 Equivalent Units of tricycles 100 980 eTextbook and Media e Textbook Attempts: 1 of 5 used (a2) - Your answer is partially correct. Calculate the unit costs of production for materials and conversion costs for both the bicycles and the tricycles. Materials Conversion Costs Unit costs of bicycles 33.03 47 Unit costs of tricycles 30 33.96 eTextbook and Media Attempts: 2 of 5 used

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