Swinn Company manufactures bicycles. Materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Production and cost data for the month of May are as follows. Percent Complete 80% Production Data-Bicycles Work in process units, May 1 Units started in production Work in process units, May 31 Units 500 2,000 800 40% $15,000 18,000 Cost Data-Bicycles Work in process, May 1 Materials Conversion costs Direct materials Direct labor Manufacturing overhead $33,000 50,000 19,020 33,680 Instructions (a) Calculate the following. (1) The equivalent units of production for materials and conversion. (2) The unit costs of production for materials and conversion costs. (3) The assignment of costs to units transferred out and in process at the end of the accounting period. (b) Prepare a production cost report for the month of May for the bicycles