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				$

Blossom Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Blossom Company uses the FIFO method to compute equivalent units. Production and cost data for the Assembly Department for March are as follows. Percentage Complete as to Conversion Costs Production Data-Bicycles Units Work in process units, March 1 190 80 % Units started into production 1,250 Work in process units, March 31 290 40 % Cost Data-Bicycles Work in process units, March 1 $19,000 Costs added during March Direct materials 50,000 Direct labor 25,900 Manufacturing overhead 29,800 Percentage Complete as to Conversion Costs Production Data-Tricycles Units Work in process units, March 1 100 75 % Units started into production 990 Work in process units, March 31 60 25 % Cost Data-Tricycles Work in process units, March 1 $6,000 Costs added during March Direct materials 29,700 Direct labor 14,000 Manufacturing overhead 19,950 Question 3 of 3 16.65 / 33.3 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. Bicycles $ Costs accounted for: Transferred out Work in process, March 31 Materials Conversion costs Total costs Tricycles Costs accounted for: Transferred out Work in process, March 31 $ Materials $ Conversion costs WOWA hapter 21, 13e Question 3 of 3