(20 points - 5 each Step) Rosa Winery manufactures a fine wine in two departments, Fermenting and Bottling. In the Fermenting Department, grapes are aged in casks for a period of 30 days. In the Bottling Department, the wine is bottled and then sent to the finished goods warehouse. Labor and overhead are incurred uniformly through both processes. Materials are entered at the beginning of both processes. Cost and production data for the Fermenting Department for December 2014 are presented below: Cost data Beginning work in process inventory $36,000 ($30,000 of materials cost) 390,000 122.000 $548,000 Materials Conversion costs Total costs Production data Beginning work in process (gallons) Gallons started into production Ending work in process (gallons) (40%) 5,000 65,000 8,000 (25%) Instructions: Prepare a Cost of Production Report showing all four steps. Step 1: Units to account for Step 2: Equivalent units Step 3: Cost per equivalent unit Step 4: Assign costs