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The Apple Barn Inc. processes raw apples into two products; applesauce and apple juice. Sales value, production and sales information for September were as follows:
Sales value Litres Litres sold
Product at Splitoff (per litre) produced in September
Applesauce $2.50 144,000 139,500 litres
Apple juice $4.00 60,000 54,200 litres
Required
Problem (a) Prepare a partial income statement for September showing gross margin for both products separately. Assume that both products are sold at the splitoff point and joint costs are allocated using the sales value at splitoff method.
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