(Cost assignment; FIFO) Biltmore Manufacturing is a contract manufacturer for Zesty Dressing. Biltmore uses a FIFO process costing system to account for the production of its salad dressing. All ingredients are added at the start of the process. Zesty provides reusable vats to Biltmore for the completed product to be shipped to Zesty for bottling so Biltmore incurs no packaging costs. June 1997 production and cost information for Biltmore Manufacturing is as,follows:

The beginning and ending inventories had the following degrees of completion for each labor and overhead:

a. How many gallons of dressing ingredients were started in June?

b. What is the total cost of the completed beginning inventory?

c. What is the total cost of goods completed during June?

d. What is the average cost per unit of all goods completed during June?

e. What is the cost of June’s ending WIP inventory?LO1

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Gallons of dressing in beginning inventory Gallons transferred out during June Gallons of dressing in ending inventory Cost of beginning inventory: Direct materials Direct labor Overhead Costs incurred in June: Direct materials Direct labor Overhead 37,000 243,000 23,500 $ 181,300 45,695 50,320 $1,131,435 452,976 770,133