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Jakarta Bike manufactures bicycles and tricycles. For both products, materials are usually added at the beginning of the production process, and conversion costs are incurred uniformly. However, the materials for the ending work in process in March are only added 80%. both bicycles and tricycles. Jakarta Bike 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 1 200 80% Units started into production 1,000 Work in process units, March 31 300 40% Cost Data-Bicycles Work in process, March I Costs added during March Direct materials $19,280 50,000 Direct labor 25,900 Manufacturing overhead 30,000 Percentage Complete as to Conversion Costs Production Data-Tricycles Units Work in process units, Marchl 100 75% Units started into production 1,000 25% Work in process units, March 31 Cost Data-Tricyeles 60

Jakarta Bike manufactures bicycles and tricycles. For both products, materials are usually added at the beginning of the production process, and conversion costs are incurred uniformly. However, the materials for the ending work in process in March are only added 80%. both bicycles and tricycles. Jakarta Bike 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 1 200 80% Units started into production 1,000 Work in process units, March 31 300 40% Cost Data-Bicycles Work in process, March I Costs added during March Direct materials $19,280 50,000 Direct labor 25,900 Manufacturing overhead 30,000 Percentage Complete as to Conversion Costs Production Data-Tricycles Units Work in process units, Marchl 100 75% Units started into production 1,000 25% Work in process units, March 31 Cost Data-Tricyeles 60

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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calculate the equivalent units of production for materials and conversion costs for both bicycles and tricycles
Adobe Acrobat Jakarta Bike manufactures bicycles and tricycles. For both products, materials are usually added at the beginning of the production process, and conversion costs are incurred uniformly. However, the materials for the ending work in process in March are only added 80%. both bicycles and tricycles. Jakarta Bike 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 1 200 80% Units started into production 1,000 Work in process units, March 31 300 40% Cost Data-Bicycles Work in process, March I Costs added during March Direct materials $19,280 50,000 Direct labor 25,900 Manufacturing overhead 30,000 Percentage Complete as to Conversion Costs Production Data-Tricycles Unlts Work in process units, Marchl 100 75% Units started into production 1.000 Work in process units, March 31 60 25% Cost Data-Tricycles 317ode in nenaae Marah L L English (United States) 14 75% 26°C A 2:54 AM 22-Sep-21
Transcribed Image Text:Adobe Acrobat Jakarta Bike manufactures bicycles and tricycles. For both products, materials are usually added at the beginning of the production process, and conversion costs are incurred uniformly. However, the materials for the ending work in process in March are only added 80%. both bicycles and tricycles. Jakarta Bike 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 1 200 80% Units started into production 1,000 Work in process units, March 31 300 40% Cost Data-Bicycles Work in process, March I Costs added during March Direct materials $19,280 50,000 Direct labor 25,900 Manufacturing overhead 30,000 Percentage Complete as to Conversion Costs Production Data-Tricycles Unlts Work in process units, Marchl 100 75% Units started into production 1.000 Work in process units, March 31 60 25% Cost Data-Tricycles 317ode in nenaae Marah L L English (United States) 14 75% 26°C A 2:54 AM 22-Sep-21
Percentage Complete as to Conversion Costs Production Data-Bicycles Units Work in process units, March 1 Units started into production 200 80% 1,000 Work in process units. March 31 300 40% Cost Data-Bicycles Work in process, March 1 Costs added during March $19.280 Direct materials 50,000 25,900 30.000 Direct labor Manufacturing overhead Percentage Complete as to Conversion Costs Production Data-Tricycles Units Work in process units, March 1 100 75% Units started into production 1.000 Work in process units, March 31 60 25% Cost Data-Tricycles Work in process, March 1 $ 6,125 Costs added during March Direct materials 30,000 Direct labor 14,300 Manufacturing overhead 20,000 (United States) 2:54
Transcribed Image Text:Percentage Complete as to Conversion Costs Production Data-Bicycles Units Work in process units, March 1 Units started into production 200 80% 1,000 Work in process units. March 31 300 40% Cost Data-Bicycles Work in process, March 1 Costs added during March $19.280 Direct materials 50,000 25,900 30.000 Direct labor Manufacturing overhead Percentage Complete as to Conversion Costs Production Data-Tricycles Units Work in process units, March 1 100 75% Units started into production 1.000 Work in process units, March 31 60 25% Cost Data-Tricycles Work in process, March 1 $ 6,125 Costs added during March Direct materials 30,000 Direct labor 14,300 Manufacturing overhead 20,000 (United States) 2:54
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