need help on the last few

There were no beginning inventories on September 1, 2017 Read the requirements Yum, Inc. is a producer of potato chips. A single production process at Yum, Inc., yields potato chips as the main product, as well as a byproduct that can be sold as a snack. Both products are fully processed by the splitoff point, and there are no separable costs. For September 2017, the cost of operations is $495,000 Production and sales data are as follows: Click the icon to view the production and sales data) Requirement 1. What is the gross margin for Yum, Inc., under the production method and the sales method of byproduct accounting? (Enter a "O" for any cells with a zero balance. For the main product inventory: Calculate the proportion of inventory first, then complete your calculation) Production Sales method method Revenues Main product (potato chips) $ 20,720 $ 720720 Byproduct (snack) 70,000 720,720 790.720 Total revenues 86,000 Cost of goods sold Total manufacturing costs 495,000 495.000 Deduct value of byproduct production Net manufacturing costs 409,000 495.000 Deduct main product Inventory 248776 305440 Cost of goods sold 155800 188560 Gross margin 564920 532160 Briefly discuss the effects on the financial statements, Under the production method revenue is not recognized for the sale of the byproduct. Instead, the NRV of the byproduct main product. This method is more consistent with the matching principle and is therefore the preferred method Under the sales method, the NRV is recognized only upon solo. In offset against the cost of the Requirements 1. What is the gross margin for Yum, Inc., under the production method and the sales method of byproduct accounting? 2. What are the inventory costs reported in the balance sheet on September 30, 2017, for the main product and byproduct under the two methods of byproduct accounting in requirement 1? 3. Prepare the journal entries to record the byproduct activities under (a) the production method and (b) the sales method. Briefly discuss the effects on the financial statements. Print Done X Data Table Potato Chips Byproduct Production (in pounds) Sales (in pounds) Selling Price per pound 42,000 32,760 $ 22 8,600 7,000 $ 10 Print Done