XYZ Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The...
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Accounting
XYZ Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June: Direct Materials processed: 24,500 gallons (after shrinkage) The cost of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 24,500 gallons of saleable products was $55,000. The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the constant gross-margin percent for XYZ ? 64.1% 23.6% 62.6% 20.4%
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