Sunland Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of...

Transcribed Image Text:

Sunland Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Sunland Company uses the FIFO method to compute equivalent units. Production and cost data for the month of March are as follows. Percentage Production Data-Bicycles Units Complete Work in process units, March 1 190 80 % Units started into production 1,350 Work in process units, March 31 290 40 % Cost Data-Bicycles Work in process units, March 1 $19,030 Direct materials 49,950 Direct labor 26,200 Manufacturing overhead 29,644 Percentage Production Data-Tricycles Units Complete Work in process units, March 1 120 75 % Units started into production 1,000 Work in process units, March 31 60 25 % Cost Data-Tricycles Work in process units, March 1 $6,280 Direct materials 31,000 Direct labor 14,400 Manufacturing overhead 19,090 Your Answer Correct Answer (Used) Calculate the equivalent units of production for materials and conversion costs for both the bicycles and the tricycles. Materials Equivalent Units of bicycles 1,350 Equivalent Units of tricycles 1,000 Conversion Costs 1,214 985 Calculate the unit costs of production for materials and conversion costs for both the bicycles and the tricycles. Unit costs of bicycles Unit costs of tricycles eTextbook and Media eTextbook Materials 37 31 Conversion Costs 46 34 Assistance Used Attempts: 1 of 5 used 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 37 1150 46 83 95450 Costs accounted for: Transferred out Work in process, March 31 Materials Conversion costs Total costs eTextbook and Media eTextbook 31 1060 34 65 68900 Assistance Used Sunland Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Sunland Company uses the FIFO method to compute equivalent units. Production and cost data for the month of March are as follows. Percentage Production Data-Bicycles Units Complete Work in process units, March 1 190 80 % Units started into production 1,350 Work in process units, March 31 290 40 % Cost Data-Bicycles Work in process units, March 1 $19,030 Direct materials 49,950 Direct labor 26,200 Manufacturing overhead 29,644 Percentage Production Data-Tricycles Units Complete Work in process units, March 1 120 75 % Units started into production 1,000 Work in process units, March 31 60 25 % Cost Data-Tricycles Work in process units, March 1 $6,280 Direct materials 31,000 Direct labor 14,400 Manufacturing overhead 19,090 Your Answer Correct Answer (Used) Calculate the equivalent units of production for materials and conversion costs for both the bicycles and the tricycles. Materials Equivalent Units of bicycles 1,350 Equivalent Units of tricycles 1,000 Conversion Costs 1,214 985 Calculate the unit costs of production for materials and conversion costs for both the bicycles and the tricycles. Unit costs of bicycles Unit costs of tricycles eTextbook and Media eTextbook Materials 37 31 Conversion Costs 46 34 Assistance Used Attempts: 1 of 5 used 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 37 1150 46 83 95450 Costs accounted for: Transferred out Work in process, March 31 Materials Conversion costs Total costs eTextbook and Media eTextbook 31 1060 34 65 68900 Assistance Used