Seasons, Inc. is a producer of potato chips. A single production process at Seasons, Inc., yields There were no beginning inventories on September 1, 2017. 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 Read the requirements. 2017, the cost of operations is $490,000. Production and sales data are as follows: B (Click the icon to view the production and sales data.) Data Table Requirement 1. What is the gross margin for Seasons, Inc., under the production method and the sales method of byproduct accounting? (Enter a "0" for any cells with a zero balance. For the main product inventory: Calculate the proportion of inventory first, then complete your calculation.) Production method Revenues Main product (potato chips) Byproduct (snack) 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 HOT III Gross margin X Data Table Sales (in pounds) Selling Price per pound Production (in pounds) 40,000 Potato Chips 32,800 $ 18 Byproduct 8,800 4,500 $ 10 Print Done X 1 Requirements 1. What is the gross margin for Seasons, 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 Best Books, an online book retailer, has two operating departmentscorporate sales and consumer salesand two support departmentshuman resources and information systems. Each sales department conducts merchandising and marketing operations independently. Best Books uses number of employees to allocate human resources costs and processing time to allocate information systems costs. The following data are available for September 2017: (Click the icon to view the data.) Read the requirements. Requirement 1. Allocate the support departments' costs to the operating departments using the direct method. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Use parentheses or a minus sign when decreasing departments by allocating costs. Enter a "0" for any zero balances. Abbreviations used: HR = Human resources; Info. = Information.) Support Departments Operating Departments Corporate Consumer HR Info. Systems Total Costs incurred Allocation of HR costs Allocation of Info. System costs Total budgeted costs of operating departments Data Table Support Departments Human Information Resources Systems Operating Departments Corporate Consumer Sales Sales $ 80,000 $ 240,000 $ 960,000 $ 485,000 Budgeted costs incurred before any interdepartment cost allocations Support work supplied by human resources department Budgeted number of employees Support work supplied by information systems department Budgeted processing time (in minutes) 20 48 32 350 - 1,750 1,400 Requirements 1. Allocate the support departments' costs to the operating departments using the direct method. 2. Rank the support departments based on the percentage of their services provided to other support departments. Use this ranking to allocate the support departments' costs to the operating departments based on the step-down method. 3. How could you have ranked the support departments differently? Print Done Enter any