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Family Farm is a producer of milk and byproducts. A single production process at Family Farm yields milk as the main product, as well as

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Family Farm is a producer of milk and byproducts. A single production process at Family Farm yields milk as the main product, as well as ghee, a byproduct of milk production, that can be sold. Both products are fully processed by the splitoff point, and there are no separable costs. For the month of October 2020 , the cost of operations is $325,000. Production and sales data are as follows. (Cick the icon to view the production and sales data.) There were no beginning inventories on October 1,2020 . Read the tequirements Requirement 1. What is the gross margin for Family Farm under the production method and the sales method of byproduct accounting? (Complote all input fields. Enter a 0 for any zero balances.) Requirements 1. What is the gross margin for Family Farm undor the production method and the sales method of byproduct accounting? 2. What are the imvontory costs reportod in the belance sheet on October 31 . 2080. foe the main produd and byproduct under the tho methods of byproduct accochting in requirement 17

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