Jackson Ltd

Essay

Jackson Ltd.uses an automated process in its manufacturing operations.On September 1, the company had 15,000 units in beginning work in process which were 60% complete with respect to conversion.During the month of September, it started 100,000 into production.On September 30, there were 20,000 units in process, which were 30% complete with respect to conversion.Direct materials are added at the beginning of the process, and no units are spoiled in production.The beginning inventory had direct materials costs of $135,900 and conversion costs of $38,500.During the month, the company issues $620,000 of direct materials and incurred $199,400 of conversion costs.Required:
Prepare a production cost worksheet using the FIFO method.Round equivalent unit costs to the nearest cent.