(b) Your answer is partially correct. Allocate the joint costs under the sales value at split-off method and prepare (1) a partial income statement through gross margin and (2) the inventory section of the balance sheet. (Round proportion and per unit calculations to 4 decimal places, eg. 0.2513 and final answers to O decimal places, c.s. 5,125) (1) A partial income statement through gross margin Joseph Company Partial Income Statement Pillar Votive Totals Sales Revenue Less COGS Gross Margin (2) The inventory section of the balance sheet Joseph Company Balance Sheet Assets Current Assets FG InventoryA is correct! I need help with part B At Joseph's company, two types of candles are created from the common melting and molding process: pillar candles and votive candles (eight votives per pack: one pack is one unit). The costs of the joint process total $58,800. The votive candles are sold directly after production, but the pillar candles are further etched and designed to increase their value. The quantities, costs, and values of these products as produced and sold are as follows Etched, Decorated Pillar Candles Votive Candles Pillar Candles Production units at split-off 20,000 10.000 Units sold at split-off 7000 Further processing cost $7,200 Production units after further processing 20,00 Units sold after further processing 17,000 Sales price per unit $1.9 C (a) Your Answer Correct Answer Your answer is partially correct. Using the physical quantities method, allocate the joint costs to the joint products and prepare (1) a partial income statement through gross margin and (2) the inventory section of the balance sheet. (Note: Use fractions instead of decimals when specifying proportions under this method.) (Round proportion and per unit calculations to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125. Do not leave any answer field blank. Enter O for amounts.) (1) A partial income statement through gross margin Joseph Company Partial Income Statement Pillar Votive Totals Sales Revenue 102000 13720 Less COGS 39440 13720 Gross Margin 62560