FIFO Method, Single Department Analysis, One Cost Category

Hatch Company produces a product that passes through three processes: Fabrication, Assembly, and Finishing. All manufacturing costs are added uniformly for all processes. The following information was obtained for the Fabrication Department for June:

Work in process, June $1,$ had $90,000$ units $(40$ percent completed$)$ and the following costs:

Direct materials $$72,740$

Direct labor $109,000$

Overhead $35,000$

During the month of June, $190,000$ units were completed and transferred to the Assembly Department, and the following costs were added to production:

Direct materials $$226,000$

Direct labor $144,000$

Overhead $162,000$

On June $30,$ there were $45,000$ partially completed units in process. These units were $80$ percent complete.Required:

Prepare a cost of production report for the Fabrication Department for June using the FIFO method of costing. Round the cost per equivalent unit to the nearest cent.