Fizzy Drinks Company uses the First-In, First-Out process costing method to produce fizzy drinks that passes through three processes: mixing, bottling and packaging. In the mixing department, all materials are added at the beginning of the process and conversion costs are incurred evenly throughout the manufacturing process. The accountant of Fizzy Drinks Company collected the following information for the month of September: 600,000 units were completed and transferred out. Direct materials cost of $5,800,000 and conversion costs of $600,000 were incurred during September. There were 60,000 units in beginning work-in-process on 1st September that were 40% complete as to conversion and the related costs were $1,200,000 for direct materials and $150,000 for conversion costs. Ending work-in-process on 30th September had 40,000 units that were 60% complete as to conversion. Required: 1. Prepare a physical flow schedule. 2. Prepare a schedule of equivalent units. 3. Calculate the cost per equivalent unit for direct materials and conversion. 4. Calculate the cost of goods completed and transferred out, the cost of ending work-in- process and total costs accounted for during September. 5. Would you recommend Fizzy Drinks Company to continue to use the First-In, First-Out costing method or should it consider alternative process costing methods? Provide detailed explanations