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.)

Crane COMPANY Production Cost Report—Bicycles 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				$

Transcribed Image Text:

Crane Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Crane Company uses the FIFO method to compute equivalent units. Production and cost data for the Assembly Department for March are as follows. Production Data-Bicycles Work in process units, March 1 Units started into production Work in process units, March 31 Cost Data-Bicycles Work in process units, March 1 Costs added during March Direct materials Direct labor Manufacturing overhead Production Data-Tricycles Work in process units, March 1 Units started into production Work in process units, March 31 Cost Data-Tricycles Work in process units, March 1 Costs added during March Direct materials Direct labor Manufacturing overhead Units 190 1,350 310 $19,430 49,950 26,400 30,094 Units 140 990 60 $6,220 30,690 14,300 20,980 Percentage Complete as to Conversion Costs 80 % 40 % Percentage Complete as to Conversion Costs 75 % 25 % Crane Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Crane Company uses the FIFO method to compute equivalent units. Production and cost data for the Assembly Department for March are as follows. Production Data-Bicycles Work in process units, March 1 Units started into production Work in process units, March 31 Cost Data-Bicycles Work in process units, March 1 Costs added during March Direct materials Direct labor Manufacturing overhead Production Data-Tricycles Work in process units, March 1 Units started into production Work in process units, March 31 Cost Data-Tricycles Work in process units, March 1 Costs added during March Direct materials Direct labor Manufacturing overhead Units 190 1,350 310 $19,430 49,950 26,400 30,094 Units 140 990 60 $6,220 30,690 14,300 20,980 Percentage Complete as to Conversion Costs 80 % 40 % Percentage Complete as to Conversion Costs 75 % 25 %