The following information is from the Income Statement of the Vaughn Laundry Service: Revenues Service Revenues $7800 Expenses Salaries and wages expense $ 2940 Advertising expense 600 Rent expense 360 Supplies expense 240 Insurance expense 120 Total expenses 4260 Net income $3540 The entry to close the expense accounts includes a: credit to Income Summary for $4260. debit to Income Summary for $4260. credit to Retained Earnings for $4260. debit to Salaries and Wages Expense for $2940

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?