Ballantyne Counter Co. produces quartz countertops in two sequential production departments: Forming and Polishing. The Polishing Department calculated the following costs per equivalent unit (square feet) on its January production cost report: (Click the icon to view the costs per equivalent unit.) 1. What was the cost per square foot of the finished product? Ballantyne's cost per square foot of making one unit is 2. Did most of the production cost occur in the Forming Department or in the Polishing Department? Explain how you can tell where the most production cost occurred. Most of the cost of producing the countertops occurred in the Department. The of represent the bulk of the cost incurred per unit. 3. What was the gross profit per square foot? Enter the formula, then compute the gross profit per square foot. (Round your answer to the nearest cent.) =Grossprofitpersquarefoot= 4. What was the total gross profit on the countertops produced in January? Enter the formula, then compute the gross profit per square foot. Data table - X \begin{tabular}{llllllc} \hline & & Transferred-in & & Direct Materials & \multicolumn{2}{c}{ Conversion Costs } \\ \hline Cost per equivalent unit: & $ & 2.54 & $ & 0.50 & $ & 1.16 \\ \hline \end{tabular} Print Done