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Problem 7-15 Vaughn West is a commercial fisherman, and he has just returned from a trip off the coast of Maine. He has calculated the cost of his catch as follows: Wages of deckhands $34,400 Vaughns wage 19,100 Food, medical supplies, etc. 7,100 Depreciation of netting and other equipment 6,000 Depreciation of boat 13,400 Fuel 18,400 Total $98,400 Vaughns nets yielded a catch of 15,200 pounds of salmon, 23,560 pounds of halibut, and 37,240 pounds of flounder. Salmon sells for $10.00 per pound, halibut for $6.00 per pound, and flounder for $3.00 per pound.

Allocate joint costs based on weight. With these costs, what is the profit associated with each type of fish? Profit Salmon $ Halibut $ Flounder $ LINK TO TEXT

Allocate joint costs based on relative sales values. With these costs, what is the profit associated with each type of fish? (Round relative sales value proportion percent to 3 decimal places, e.g. 32.954% and final answers to 0 decimal places, e.g. 125.) Profit Salmon $ Halibut $ Flounder $ LINK TO TEXT

Vaughn is considering turning the flounder into fish paste. The incremental cost of this operation is $9,100. Each pound of flounder yields one-half pound of paste, and the paste sells for $6 per pound. Will Vaughn be better off selling the flounder or turning it into paste? Net incremental benefitcost of converting the flounder into fish paste is $ . Vaughn will be better off selling the flounderturning it into paste .

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