QS 5-15 Computing and analyzing gross margin ratio LO A2 Carrier Lennox Trane York Sales $ 160,000 $ 750,000 $ 48,000 $ 267,000 Sales discounts 2,000 17,000 600 4,400 Sales returns and allowances 18,000 6,000 4,900 1,300 Cost of goods sold 93,800 466,007 31,450 130,650 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i. e.; 0.2367 should be entered as 23.7%.)

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.