the crude lanolin is processed further to make lanolin cream. Uncle Richard asks for your...
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Accounting
the crude lanolin is processed further to make lanolin cream. Uncle Richard asks for your help in allocating costs and determining profitability. Here is the information he sent: If Uncle Richard uses the sales value at split-off method to allocate the joint costs, determine gross margin for each product, recognizing that both products are sold after further processing. (Round proportion to 1 decimal place, e.g. 0.2 and final answers to 0 decimal places, e.g. 5,125. If Uncle Richard uses the NRV method to allocate joint costs, determine gross margin for each product, again recognizing that both products are sold after further processing. (Round answers to 2 decimal places, e.g. 15.25.)
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