Assume that JIF, which is part of The J.M. Smucker Company, processes its only product, 12-ounce jars of peanut butter, in a single process and uses weighted average process costing to account for inventory costs. All materials are added at the beginning of production. Assume the following inventory, production, and September: Production data Beginning inventory (25% converted) 320,000 units Units started 960,000 units Ending inventory (75% converted) 360,000 units Manufacturing costs Beginning inventory in process Materials cost $291,200 Conversion cost 71,360 Raw materials cost added at beginning of process 924,800 Direct labor cost incurred 643,040 713,600 Manufacturing overhead applied Required a. Prepare a cost of production report for September. Note: Do not use a negative sign with any of your answers. JIF PEANUT BUTTER Cost of Production Report For the Month of September Summary of units in process: Beginning Units started In process Completed Ending Equivalent units in process: Units completed Equivalent units in ending inventory Equivalent units in process Total cost to be accounted for and cost per equivalent unit in process: Beginning work-in-process Current cost Total cost in process Equivalent units in process Cost per equivalent unit in process Accounting for total costs: Transferred out Ending work-in-process: Materials Conversion Total cost accounted for Materials Conversion Total S $ $ $ $ $ $ $ b. Prepare a statement of cost of goods manufactured for September. Note: Do not use a negative sign with any of your answers. JIF Peanut Butter Statement of Cost of Goods Manufactured For the Month of September Current manufacturing costs: Direct materials Direct labor Manufacturing overhead Plus: Work-in-process, 9/1 Total costs in process Less: Work-in-process, 9/30 Cost of goods manufactured $ $ $