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		1,330
Work in process units, March 31		290		40	%

Cost DataBicycles
Work in process units, March 1		$19,300
Direct materials		50,540
Direct labor		26,400
Manufacturing overhead		29,812

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		$6,360
Direct materials		30,000
Direct labor		14,300
Manufacturing overhead		20,000

Prepare a production cost report for the month of March for the bicycles only.

OWEN COMPANY Production Cost ReportBicycles 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 complete beginning inventory
Started and completed				$
Work in process, March 31
Materials
Conversion costs
Total costs				$