please answer do not image format 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 $1,400 disposal cost for the by-product. A summary of a recent month's activity at Marshall is shown below:Ying70,00070,000Bit14,00014,000Separable processing costs-variable$ 196,000$$$ 14,000Separable processing costs-fixedSales price$ 6.00$ 1.50Total joint costs for Marshall in the recent month are $199,600, of which $85,828 is a variable cost.Units soldUnits producedManufacturing cost per unitTotal gross marginYang56,00056,000$ 63,000YingRequired: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.Yang$ 7,000$ 12.50-Bit

The joint cost is the cost that benefits more than one product. The joint costs are incurred before…

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 $1,400 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Yang Bit Ying 70,000 70,000 56,000 14,000 56,000 14,000 Separable processing costs-variable $ 196,000 $ 63,000 $- Separable processing costs-fixed Sales price $ 14,000 $ 7,000 $ 6.00 $ 12.50 $ 1.50 Total joint costs for Marshall in the recent month are $199,600, of which $85,828 is a variable cost. Units sold Units produced 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 each product. Manufacturing cost per unit Total gross margin Ying Yang 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 $1,400 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Yang Bit Ying 70,000 70,000 56,000 14,000 56,000 14,000 Separable processing costs-variable $ 196,000 $ 63,000 $- Separable processing costs-fixed Sales price $ 14,000 $ 7,000 $ 6.00 $ 12.50 $ 1.50 Total joint costs for Marshall in the recent month are $199,600, of which $85,828 is a variable cost. Units sold Units produced 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 each product. Manufacturing cost per unit Total gross margin Ying Yang Bit

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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