Please do not give solution in image format thanku edesThe 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 $300 disposal cost for the by-product. A summary of a recent month's activity at Marshall is shown belowUnits soldUnits producedSeparable processing costs-variableSeparable processing costs-fixedSales priceYing15,00015,000$ 42,000$3,000$ 6.00Manufacturing cost per unitTotal gross margin3$ 1.50Total joint costs for Marshall in the recent month are $84.200, of which $36,206 is a variable cost.YingYang12,00012,000$ 14,000$1,000$12.50Required: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 ach product.YangBit3,0003,000SBit

Joint cost Allocation-In this we have to allocate joint cost between joint product on the basis of…

The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint products are processed beyond the split-off point, incurring separable processing costs. There is a $300 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below Units sold Units produced Ving 15,000 15,000 $ 42,000 $3,000 $ 6.00 Manufacturing cost per unit Total gross margin Separable processing costs-variable Separable processing costs-fixed Sales price Total joint costs for Marshall in the recent month are $84.200, of which $36,206 is a variable cost. Ying Yang 12,000 12,000 Required: 1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimall places.) 2 Calculate the total gross margin for each product. Yang $ 14,000 $ 1,000 $12.50 Bit 3,000 3,000 5 $1.50 Bit

The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint products are processed beyond the split-off point, incurring separable processing costs. There is a $300 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below Units sold Units produced Ving 15,000 15,000 $ 42,000 $3,000 $ 6.00 Manufacturing cost per unit Total gross margin Separable processing costs-variable Separable processing costs-fixed Sales price Total joint costs for Marshall in the recent month are $84.200, of which $36,206 is a variable cost. Ying Yang 12,000 12,000 Required: 1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimall places.) 2 Calculate the total gross margin for each product. Yang $ 14,000 $ 1,000 $12.50 Bit 3,000 3,000 5 $1.50 Bit

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 13P: Venezuela Oil Inc. transports crude oil to its refinery where it is processed into main products...

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Question

Please do not give solution in image format thanku

ed
es
The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying
and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint
products are processed beyond the split-off point, incurring separable processing costs. There is a $300 disposal cost for the by-
product. A summary of a recent month's activity at Marshall is shown below
Units sold
Units produced
Separable processing costs-variable
Separable processing costs-fixed
Sales price
Ying
15,000
15,000
$ 42,000
$3,000
$ 6.00
Manufacturing cost per unit
Total gross margin
3
$ 1.50
Total joint costs for Marshall in the recent month are $84.200, of which $36,206 is a variable cost.
Ying
Yang
12,000
12,000
$ 14,000
$1,000
$12.50
Required:
1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimal
places.)
2. Calculate the total gross margin for ach product.
Yang
Bit
3,000
3,000
S
Bit

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