Kormic Kitchens produces granite countertops in two sequential production departments: Forming and Polishing. The Polishing Department calculated the following costs per equivalent unit (square metres) on its December production cost report: (Click the icon to view the costs per equivalent unit.) During December, 275,000 square metres were completed and transferred out of the Polishing Department to finished goods inventory. The countertops were subsequently sold for $12.25 per square metre. Requirements 1. What was the cost per square metre of the finished product? 2. Did most of the production cost occur in the Forming Department or in the Polishing Department? Explain how you can tell. 3. What was the gross profit per square metre? 4. What was the total gross profit on the countertops produced in December? Requirement 1. What was the cost per square metre of the finished product? (Round your answer to the nearest cent.) Kormic Kitchens's cost per square metre of making one unit is $ Data Table Transferred in Direct Materials Conversion Costs Cost per equivalent unit: $ 2.54 $ 0.30 $ 1.76 Print Done