The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Yingand Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two jointproducts are processed beyond the split-off point, incurring separable processing costs. There is a $2,000 disposal cost for the by-product. A summary of a recent month's activity at Marshall is shown below:Yang80,00080,000Separable processing costs-variable$ 86,000Separable processing costs-fixedSales price$ 14,000$ 20,000$6.00$ 12.50$ 1.50Total joint costs for Marshall in the recent month are $268,000, of which $115.240 is a variable costUnits soldUnits producedManufacturing cost per unit tTotal gross marginRequired:1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimalplaces.)2. Calculate the total gross margin for each product.$Ying100,000100,000$ 280,000Answer is not complete.YingYang3.00 S1.25 SBitBit20,00020,0000.10

Answer : Calculation of joint cost allocation : Total joint cost $268,000 Less : NRV of by…

t. A summary of a recent month's activity at Marshall is shown below: Ying 100,000 100,000 rable processing costs. There is a $2,000 disposal cost Yang 80,000 80,000 $ 86,000 $ 14,000 $12.50 Answer is not complete. Bit 20,000 20,000 is sold s produced mrable processing costs-variable $ 280,000 arable processing costs-fixed es price $ 20,000 $ 6.00 $1.50 joint costs for Marshall in the recent month are $268,000, of which $115,240 is a variable cost ired: culate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to es.) alculate the total gross margin for each product.

t. A summary of a recent month's activity at Marshall is shown below: Ying 100,000 100,000 rable processing costs. There is a $2,000 disposal cost Yang 80,000 80,000 $ 86,000 $ 14,000 $12.50 Answer is not complete. Bit 20,000 20,000 is sold s produced mrable processing costs-variable $ 280,000 arable processing costs-fixed es price $ 20,000 $ 6.00 $1.50 joint costs for Marshall in the recent month are $268,000, of which $115,240 is a variable cost ired: culate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to es.) alculate the total gross margin for each product.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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