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Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three...

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Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs $12,900. None of the products can be sold at split-off, but must be processed further. Information on one batch of the three products is as follows: Further Processing Product Gallons Cost per Gallon L-Ten Triol Pioze Required: 1. Calculate the total revenue, total costs, and total gross profit the company will earn on the sale of L-Ten, Triol, and Pioze Total Revenue Eventual Market Price per Gallon $2.00 5.00 6.00 3,500 4,000 2,300 $0.50 1.00 1.50 40,800 22,100 V 18,700 Total Costs Total Gross Profit 2. Allocate the joint cost to L-Ten, Triol, and Pioze using the constant gross margin percentage method. Round the gross margin percentage to four decimal places and round all other computations to the nearest dollar Joint Cost Product L-Ten Triol Pioze Allocation Total

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