Question
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
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 0 decimal places, e.g. 2,520.)
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 | $ |
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