Question 6 Not camplese Marked out or 21.00 Accounting for by-product Potato skins are generated as a by-product in making potato chips and frozen hash browns at Zeena Foods. The skins are sold to restaurants for use in appetizers. Processing and disposal costs associated with by-product sales are so.06 per pound of potato skins. During May. Zeena Foods produced and sold 270,000 pounds of potato skins for $40,500. In addition, the joint cost for producing potato chips and hash browns was $164,000; separate costs of production were 596,000 , In May, 90 percent of all joint production was sold for $638,000. Non-factory operating expenses for May were $95,700. a. Prepare an income statement for Zeena Foods assuming that by-product sales are shown as Other Revenue and the processing and disposal costs for the by product are shown as additional cost of goods sold of the joint products. Note: Do not use a negative sign with your answers. b. Prepare an income statement for Zeena Foods assuming that the net realizable value of the by-product is shown as other Income. Note: Do not use a negative sign with your answers. c. Prepare an income statement for Zeena Foods assuming that the net realizable value of the by-product is subtracted from the joint cost the main products. Note: Do not use a negative sign with your answers