21 On January 1st, 2019, Jim-N-John Inc. had a Beginning Work-in-Process balance of $20,000 ($10,000 of Direct Materials and $10,000 of Conversion) which consisted of 10,000 units which were 40% complete with respect to conversion costs. During January, Jim-N-John started production on an additional 20,000 units and incurred $40,000 in Materials and $46,000 in Conversion costs. Jim-N-John's Ending Work-In-Process consisted of 6,000 units which were 50% complete with respect to conversion costs. Jim-N-John produces a single product. All direct materials are added at the start of the production process while conversion costs are incurred uniformly. Jim-N-John uses a FIFO process costing system. The cost of Jim-N-John's production completed during January was: