Forte Company manufactures bicycles and tricycles. For both products, 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.

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.

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Production Data-–Bicycles Percent Complete Units 80% Work in process units, May 1 Units started in production Work in process units, May 31 500 1,500 800 25% Cost Data-Bicycles Work in process, May 1 $15,000 Materials Conversion costs $33,000 18,000 Direct materials 50,000 Direct labor 18,320 Manufacturing overhead 33,680