Question

Have asked this question earlier, answer was wrong, as are all the other answers that are similar problems, HELP!!! Problem 7-48 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 joint products are processed beyond the split-off point, Incurring separable processing costs. There is a $2,300 disposal cost for the by-product. A summary of a recent month's activity at Marshall is shown below: 0/5 points awarded Scored Units sold Units produced Separable processing costs-variable Separable processing costs-fixed Sales price Ying 115,000 115,000 $322,000 $ 23,000 $ 6.00 Yang 92,000 92,000 $98,900 $ 17,000 $ 12.50 Bit 23,000 23,000 $ - $ - $ 1.50 Total joint costs for Marshall in the recent month are $302.200, of which $129,946 is a variable cost. 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. Answer is complete but not entirely correct. Manufacturing cost per unit Total gross margin Ying 3.93 $ 238,014 Ⓡ$ Yang 3.18 856,984 $ $ Blt 0.75 17,302 $ Manuactering ocst zerunt Total gross magi Ying Yang 3 $ 389 25624$ 764.95 Bit .10 220

Answer 1

calculation of cost and gross margin

	ying ($)	yang($)	bit($)
manufacturing cost per unit	3	1.25	0.10
total gross margin	345000	1035000	32200

Working notes

	ying ($)	yang($)	bit($)
variable cost	322000	98000
fixed cost	23000	17000
disposable cost			2300
total cost	345000	115000	2300
units	115000	92000	23000
cost per unit	3.00	1.25	0.10
sales price pu	6.00	12.50	1.50
total sales price	690000	1150000	34500
total gross margin	345000	1035000	32200