The Lethbridge Oil Company buys crude vegetable oil. Refining this oil results in four products at the splitoff point: A, B, C, and D. Product C is fully processed by the splitoff point. Products A, B, and D can individually be further refined into Super A, Super B, and Super D. In the most recent month (November), the output at the splitoff point was as follows: (Click the icon to view the information.) Required Information . . Product A, 322,400 gallons Product B, 119,600 gallons Product C, 52,000 gallons Product D, 26,000 gallons The joint costs of purchasing and processing the crude vegetable oil were $96,000. Lethbridge had no beginning or ending inventories. Sales of product C in November were $24,000. Products A, B, and D were further refined and then sold. Data related to November are as follows: Separable Processing Costs to Make Super Products Revenues Super A $ 249,600 $ 320,000 Super B 102,400 160,000 Super D 152,000 160,000 Lethbridge had the option of selling products A, B, and D at the splitoff point. This alternative would have yielded the following revenues for the November production: . Product A, $84,000 Product B, $72,000 Product D, $60,000 . Requirement 1a. Compute the gross margin percentage for each product sold in November, using the Sales Value at Splitoff method for allocating the $96.000 joint costs. Begin by entering the amounts in the table and allocate the joint costs. (Enter the weights to four decimal places.) Sales value of total Joint costs production at splitoff Weighting allocated A $ 84,000 0.3500 $ 33.600 B 72,000 0.3000 28,800 24.000 0.1000 9,600 D 60,000 0.2500 24,000 $ 240,000 1.0000 $ 96,000 Total Compute the gross margin percentage using the sales value at splitoff method to allocate the joint costs. (Enter a "O" for any cells with a zero balance. Round the percentages to two decimal places, X.XX%. Use parentheses or a minus sign when entering negative amounts.) C Super B 160,000 Super D 160,000 Revenues 24,000 Super A 320,000 33,600 249,600 Joint costs 28,800 9,600 24,000 152,000 Separable costs 102,400 0 Gross margin 36,800 28,800 14,400 -16,000 11.5 18 Gross margin percentage % %