Classification of output from a joint process

Organic Co$.$ makes a variety of products from a joint process. The joint cost per batch run is $$30,000$ and each batch produces the following products:

Sales value per UnitProduct# of Unitsat Split$-$offBoco$1,200$$$6\mathrm{.}000$Loco$1,000$$$1\mathrm{.}750$Roco$5,000$$$2\mathrm{.}500$Soco$3,800$$$4\mathrm{.}200$Moco$4,100$$$1\mathrm{.}900$Coco$200$$$0\mathrm{.}250$Doco$300$$$1\mathrm{.}800$Joco$1,000$$$0\mathrm{.}020$Voco$6,000$$$0\mathrm{.}001$

a$.$ Determine the total sales value at split$-$off, by product.

NOTE: Round to nearest whole dollar amount.

ProductTotal Sales ValueBocoAnswer $1$

LocoAnswer $2$

RocoAnswer $3$

SocoAnswer $4$

MocoAnswer $5$

CocoAnswer $6$

DocoAnswer $7$

JocoAnswer $8$

VocoAnswer $9$

Total

b$.$ Determine the relative value of each product's sales as a $\%$ of total sales and identify how you would classify each product $($joint$,$ by$-$product, scrap, or waste$).$ Select "Scrap or waste" if either is possible.

Note: Enter the percent rounded to two digits after the decimal; enter $2\mathrm{.}04$ for $2\mathrm{.}044\%$ or $2\mathrm{.}05$ for $2\mathrm{.}045\%.$

ProductRelative SVClassificationBocoAnswer $10$

Answer $11$By$-$productJoint productScrap or waste

LocoAnswer $12$

Answer $13$By$-$productJoint productScrap or waste

RocoAnswer $14$

Answer $15$By$-$productJoint productScrap or waste

SocoAnswer $16$

Answer $17$By$-$productJoint productScrap or waste

MocoAnswer $18$

Answer $19$By$-$productJoint productScrap or waste

CocoAnswer $20$

Answer $21$By$-$productJoint productScrap or waste

DocoAnswer $22$

Answer $23$By$-$productJoint productScrap or waste

JocoAnswer $24$

Answer $25$By$-$productJoint productScrap or waste

VocoAnswer $26$

Answer $27$By$-$productJoint productScrap or waste

c$.$ Which of the following might require a change in the classification of outputs of a joint process?

Yes or No$?$Increase or decrease in units producedAnswer $28$YesNo

Change in the cost of raw materials before the split$-$off pointAnswer $29$YesNo

Increase or decrease in sales price at split$-$off pointAnswer $30$YesNo

Change in the depreciation method for factory equipmentAnswer $31$YesNo

Feedback

Partially correct

Marks for this submission: $1\mathrm{.}03/2\mathrm{.}00.$

Carvers Inc. manufactures wood statues, which yields sawdust as a by$-$product. Selling costs associated with the sawdust are $$250$ per ton sold. The company accounts for sawdust sales by deducting the sawdust$$s net realizable value from the major products$$ cost of goods sold. Sawdust sales for the year were $1,200$ tons at $$335$ each. If the company changes its method of accounting for sawdust sales to show the net realizable value as Other Revenue $($presented at the bottom of the income statement$),$ how would its gross margin be affected?

Note: Do not use a negative sign with your answer.

Gross margin will Answer $1$increasedecreasestay the same

by $Answer $2$