The Alfarm Corporation processes raw milk up to the split-off point where two products, cream and liquid skim, are produced and sold. There was no beginning inventory. The following material was collected for the month of February:
The cost of purchasing 760,000 gallons of direct materials and processing it up to the split-off point to yield a total of 738,000 gallons of good product was $2,350,000. When using the physical-volume method, what is Cream's approximate production cost per gallon? (Round intermediary percentages to the nearest hundredth.)
Definitions:
Professionalism
The demonstration of skills, competence, and behaviors expected by professionals in a work setting, reflecting respect and ethical standards.
Polite Behavior
Conduct that is respectful and considerate towards others.
Good Judgment
The ability to make sensible decisions based on a balanced consideration of facts, analysis, and experiences.
Biomedical Ethics
Considering autonomy, non-maleficence, beneficence, and justice when providing care.
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