Help CoursHeroTranscribedText: The Marshall Company has a joint production process that produces two joint...
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CoursHeroTranscribedText: 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: Ying Yang Bit Units sold 115, 000 92, 000 23, 000 Units produced 115, 000 92, 000 23,000 Separable processing costs-variable $322,000 $ 98, 000 Separable processing costs-fixed $ 23,000 $ 17, 000 Sales price $ 6.00 $ 12.50 $ 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
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