please solve this problems Question:03Lisa is tasked with helping her supervisor decide which method to use whenaccounting for their company's by-product and two main products, all three ofwhich result from a joint process. At the end of the joint process, the by-product is worth $1,000, Product T is worth $7,638, and Product W is worth$12,462. The joint costs amount to $4,800. Lisa's company historically uses thesales value at split-off method to allocate joint costs. If all of these productsare sold by the end of the year, how much gross margin will Lisa report for hercompany if she uses the production method to account for by-products?(Round to 2 decimal places.)

Step 1: DefinitionsSales Value at Split-Off Method: Allocates joint costs in proportion to the sales…

Answered: Question:03 Lisa is tasked with helping…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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Assume you are the department B manager for Marley's Manufacturing. Marley's operates under a cost-based transfer structure. Assume you receive the majority of your raw materials from department A, which sells only to department B (they have no outside sales). After calculating the operating income in dollars and operating income in percentage, analyze the following financial information to determine costs that may need further investigation. Marley's ManufacturingIncome StatementMonth Ending August 31, 2018 Dept. A Dept. B Sales $21,000 $52,000 Cost of goods sold 9,870 27,040 Gross profit $11,130 $24,960 Expenses: Utility expenses $840 $3,120 Wages expense 5,040 10,920 Costs allocated from corporate 2,100 14,560 Total expenses $7,980 $28,600 Operating income/(loss) in dollars $fill in the blank 1 $fill in the blank 2 Operating income/(loss) in percentage fill in the blank 3 % fill in the blank 4 % Department B had…
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owe subject-Accounting
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