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 1,000 Work in process units, March 31 300 40 % Cost DataBicycles Work in process units, March 1 $19,280 Direct materials 50,000 Direct labor 25,900 Manufacturing overhead 30,000 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 $6,125 Direct materials 30,000 Direct labor 14,300 Manufacturing overhead 20,000 A. Calculate the following for both the bicycles and the tricycles. 1. The equivalent units of production for materials and conversion costs. 2. The unit costs of production for materials and conversion costs. 3. The assignment of costs to units completed and transferred out and to work in process at the end of the accounting period. 4. Prepare a production cost report for the month of March 2022 for the bicycles only