Question: Can you help me to finish solving this? Problem 7-48 (Algo) Joint Products; By-Products (Appendix) [LO 7-6, 7-7] The Marshall Company has a joint production
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Problem 7-48 (Algo) Joint Products; By-Products (Appendix) [LO 7-6, 7-7] 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 join products are processed beyond the split-off point, incurring separable processing costs. There is a $2,100 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Ying Yang Bit Units sold 105, 000 84, 000 21, 000 Units produced 105, 000 84, 000 21, 000 Separable processing costs-variable $ 294, 000 $ 90, 000 $ Separable processing costs-fixed $ 21,000 $ 15, 000 $ Sales price $ 6.00 $ 12.50 $ 1.50 Total joint costs for Marshall in the recent month are $279,400, of which $120,142 is a variable cost. Required: 1. Calculate the manufacturing cost per unit for each of the three products. Note: Round manufacturing cost per unit answers to 2 decimal places. 2. Calculate the total gross margin for each product. Net Realizable Value Method Ying Yang Bit Manufacturing cost per unit $ 3.60 $ 3 48 + Total gross margin $ 252,500 $ 757,500Step by Step Solution
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