Love, Inc. is a producer of cassava chips. A single production process at Love, Inc....
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Love, Inc. is a producer of cassava chips. A single production process at Love, Inc. yields cassava chips as the main product and a byproduct that can also be sold as a snack. Both products are fully processed by the splitoff point, and there are no separable costs.For September the cost of operations is $ Production and sales data are as follows:Cassava chipsmain product, productionin poundsSales in poundsSelling price per lbs $ Byproduct productionin pounds sales in pounds selling price per lbs $ There were no beginning inventories on September Required:What is the gross margin for Love, Inc., under the production method of byproduct accounting? b What is the inventry cost on September for the main product?
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