As the manager of the granite-crushing division, Thomas has just recently started evaluating product profitability. The...

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As the manager of the granite-crushing division, Thomas has just recently started evaluating product profitability. The joint process for his division generates Grade 1 and Grade 2 granite pieces. Both grades at this point can be sold as-is, or Grade 2 can be processed further into Grade 3 (a stabilizer is added while it's further processed into very fine pieces). The quantities, costs, and sales values for the different grades of product are as follows. $61,000 43,000 cubic yards Joint processing costs Quantity of Grade 1 product at split-off Quantity of Grade 2 product at split-off Sales value of Grade 1 at split-off 21,500 cubic yards $1 per cubic yd Sales value of Grade 2 at split-off Cost to further process Grade 2 $2 per cubic yd $16,125 Final sales value of Grade 3 $80,625 (a) Your answer is correct. Calculate how much joint cost would be allocated to each product when using (1) the sales value at split-off method and (2) the NRV method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) (1) The sales value at split-off method Grade 1 Grade 2 Calculate how much joint cost would be allocated to each product when using (1) the sales value at split-off method and (2) the NRV method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) (1) The sales value at split-off method Allocated joint costs $ (2) The NRV method (b) Allocated joint costs eTextbook and Media Grade 1 Grade 1 30500 24400 Grade 2 Grade 2 30500 36600 Attempts: 1 of 3 used Assuming that all quantities produced are sold, calculate gross margin for the division if both Grade 1 and Grade 2 products are sold at the split-off point and the sales value at split-off method is used to allocate joint costs. Grade 1 Gross margin $ Grade 2 $ As the manager of the granite-crushing division, Thomas has just recently started evaluating product profitability. The joint process for his division generates Grade 1 and Grade 2 granite pieces. Both grades at this point can be sold as-is, or Grade 2 can be processed further into Grade 3 (a stabilizer is added while it's further processed into very fine pieces). The quantities, costs, and sales values for the different grades of product are as follows. $61,000 43,000 cubic yards Joint processing costs Quantity of Grade 1 product at split-off Quantity of Grade 2 product at split-off Sales value of Grade 1 at split-off 21,500 cubic yards $1 per cubic yd Sales value of Grade 2 at split-off Cost to further process Grade 2 $2 per cubic yd $16,125 Final sales value of Grade 3 $80,625 (a) Your answer is correct. Calculate how much joint cost would be allocated to each product when using (1) the sales value at split-off method and (2) the NRV method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) (1) The sales value at split-off method Grade 1 Grade 2 Calculate how much joint cost would be allocated to each product when using (1) the sales value at split-off method and (2) the NRV method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) (1) The sales value at split-off method Allocated joint costs $ (2) The NRV method (b) Allocated joint costs eTextbook and Media Grade 1 Grade 1 30500 24400 Grade 2 Grade 2 30500 36600 Attempts: 1 of 3 used Assuming that all quantities produced are sold, calculate gross margin for the division if both Grade 1 and Grade 2 products are sold at the split-off point and the sales value at split-off method is used to allocate joint costs. Grade 1 Gross margin $ Grade 2 $

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