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Super B, and Super D. In the most recent month (December), the output at the splitoff point is shown in the table provided. (Click to
Super B, and Super D. In the most recent month (December), the output at the splitoff point is shown in the table provided. (Click to view the December information.) Required 1. Compute the gross margin percentage for each product sold in December, using the following methods for allocating the $150,000 joint costs: a. Sales value at splitoff b. Physical-measure c. NRV December information Requirement 1. Compute the gross margin percentage for each product sold in December, using the different methods a. Sales Value at Splitoff. Begin by entering the amounts in the table and allocate the joint costs. (Enter the weightings The joint costs of purchasing and processing the crude vegetable oil were $150,000. Rainbow had no beginning or ending inventories. Sales of product C in December were $55,000. Products A, B, and D were further refined and then sold. Data related to December are: Compute the gross margin percentage using the sales value at splitoff method to allocate the joint costs. (Enter an amo lecimal places, X.XX%. Use parentheses or a minus sign when entering negative amounts.) Rainbow had the option of selling products A, B, and D at the splitoff point. This alternative would have yielded the following revenues for the December production
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