(Net realizable value method) Weatherspoon Processing produces fillet, smoked, and canned tuna in a single process. The...
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(Net realizable value method) Weatherspoon Processing produces fillet, smoked, and canned tuna in a single process. The joint cost is $64,000.
a. Assume canned is a by-product, allocate the joint cost based on net re- alizable value at split-off. Use the net realizable value method to account for by-products.
b. Determine the value of ending finished goods inventory, assuming that 8,400 pounds of fillets, 9,400 pounds of smoked, and 946 pounds of canned tuna were sold. LO1.
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Related Book For 
Cost Accounting Foundations And Evolutions
ISBN: 9780324235012
6th Edition
Authors: Michael R. Kinney, Jenice Prather-Kinsey, Cecily A. Raiborn
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