Question 23 (4 points) ExxonMobil processes direct materials, crude oil, up to the split-off point where two products (Gasoline (G) and Kerosene (K)) are obtained and sold. The following information was collected for the month of February: Direct materials processed: 10,400 gallons (10,400 gallons yield 9800 gallons of good product and 600 gallons of shrinkage) gallons gallons Production: G K 5000 4800 Sales: G 4750 at $350 per gallon K 4550 at $100 per gallon The cost of purchasing 10,400 gallons of direct materials and processing it up to the split-off point to yield a total of 9800 gallons of good products was $1,125,000. The beginning inventories totaled 30 gallons for Gasoline and 350 gallons for Kerosene. Ending inventory amounts reflected 535 gallons of Gasoline and 400 gallons of Kerosene. January costs per unit were the same as February Using the physical-volume method, what is Gasoline's approximate gross-margin percentage? (Round all intermediary calculations two decimal places.)