Question Help O Quality, Inc. is a producer of potato chips. A single production process at Quality, Inc.yalde potatoes as the main product, as well as a byproduct that can be sold awack. Both products are processed by the spitopoint, and There were no beginning inventories on September 1, 2017 there we no meperable costs. For September 2017, the cost of operations in 515.000. Production and sale data re Read the moments follow Click the icon to view the production and sales date) Requirement 1. What is the gross margin for Quality, Inc., under the production method and the sales method of typroduct counting (Entora " for wycols with a sor balance. For the main product inventory. Call the proportion of inventory first, then complete your calculation) Production Sales method method Ravenues Main product potato chips) Byproduct rack) Total revenues Cost of goods sold Total manufacturing costs Deduct value of byproduct production Net manufacturing costs Deduct main product inventory Cost of goods sold Groes margin Briefly discuss the effects on the financial statements This method is Under the is offset against the cost of the consistent with the racing principle and method revenue is not recognized for the sale of the byproduct. Instead, the NRV of the therefore the preferred method Enter any number in the edit fields and then click Check Answer under the production method and the sales method of byproduct accounting? (Enter a "0" for any cells with a zero balance. For the Sales Data Table - X Production (in pounds) 42,000 8,400 Sales (in pounds) Selling Price per pound 33,600 $ 16 Potato Chips Byproduct 6,500 $ 10 Print Done st the cost of the This method Question Help O Quality, Inc. is a producer of potato chips. A single production process at Quality, Inc.yalde potatoes as the main product, as well as a byproduct that can be sold awack. Both products are processed by the spitopoint, and There were no beginning inventories on September 1, 2017 there we no meperable costs. For September 2017, the cost of operations in 515.000. Production and sale data re Read the moments follow Click the icon to view the production and sales date) Requirement 1. What is the gross margin for Quality, Inc., under the production method and the sales method of typroduct counting (Entora " for wycols with a sor balance. For the main product inventory. Call the proportion of inventory first, then complete your calculation) Production Sales method method Ravenues Main product potato chips) Byproduct rack) Total revenues Cost of goods sold Total manufacturing costs Deduct value of byproduct production Net manufacturing costs Deduct main product inventory Cost of goods sold Groes margin Briefly discuss the effects on the financial statements This method is Under the is offset against the cost of the consistent with the racing principle and method revenue is not recognized for the sale of the byproduct. Instead, the NRV of the therefore the preferred method Enter any number in the edit fields and then click Check Answer under the production method and the sales method of byproduct accounting? (Enter a "0" for any cells with a zero balance. For the Sales Data Table - X Production (in pounds) 42,000 8,400 Sales (in pounds) Selling Price per pound 33,600 $ 16 Potato Chips Byproduct 6,500 $ 10 Print Done st the cost of the This method
