Weighted Average Process Costing 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 cost data are provided for September: Production data Beginning inventory (25% converted) Units started Ending inventory (75% converted) 400,000 units 1,200,000 units 450,000 units Manufacturing costs Beginning inventory in process Materials cost $364,000 Conversion cost 89,200 Raw materials cost added at beginning of process 1,156,000 Direct labor cost incurred 803,800 Manufacturing overhead applied 892,000 Required a. Prepare a cost of production report for September. Note: Do not use a negative sign with any of your answers. 0 0 0 0 0 Total O 0 0 0 0 JIF PEANUT BUTTER Cost of Production Report for the Month of September Summary of units in process: Beginning Units started In process Completed Ending Materials Conversion Equivalent units in process: Units completed 0 0 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 $ 0 $ 0 $ 0 O 0 0 0 $ 0 $ 0 $ 0 0 0 $ 0 $ 0 $ 0 $ 0 $ 0 0 0 $ 0 b. Prepare a statement of cost of goods manufactured for September. Note: Do not use a negative sign with any of your answers. 0 0 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 0 Total costs in process Less: Work-in-process, 9/30 0 Cost of goods manufactured 0 $ 0 0 $ 0