Lamar has just gotten a new job and is attending a company party where he will meet his colleagues for the first time. his boss escorts him around to small groups to introduce him. at the first group, lamar meets four people and is told only their first names. the same thing happens with a second group and a third group. at the fourth group, lamar is told their names and that one of the women in the group is the company accountant. a little while later, lamar realizes that he only remembers the names of the people in the fourth group, he can no longer recall the names of anyone he met earlier in the party. lamar's experience demonstrates:

Joint cost cheyenne, inc. produces three products from a common input. the joint costs for a typical quarter follow: direct materials $45,000 direct labor 55,000 overhead 60,000 the revenues from each product are as follows: product a $75,000 product b 80,000 product c 30,000 management is considering processing product a beyond the split-off point, which would increase the sales value of product a to $116,000. however, to process product a further means that the company must rent some special equipment costing $17,500 per quarter. additional materials and labor also needed would cost $12,650 per quarter. a. what is the gross profit currently being earned by the three products for one quarter? $answer b. what is the effect on quarterly profits if the company decides to process product a further? $answer