Question
4) The Berkel Corporation manufactures Widgets, Gizmos, and Turnbols from a joint process. June production is 10,000 widgets; 13,500 gizmos; and 15,000 turnbols. Respective per
4) The Berkel Corporation manufactures Widgets, Gizmos, and Turnbols from a joint process. June production is 10,000 widgets; 13,500 gizmos; and 15,000 turnbols. Respective per unit selling prices at split-off are $95, $60, and $20. Joint costs up to the split-off point are $187,500. If joint costs are allocated based upon the sales value at split- off method, what amount of joint costs will be allocated to the Turnbols? (Do not round any intermediary calculations.)
5) The Berkel Corporation manufactures Widgets, Gizmos, and Turnbols from a joint process. June production is 9000 widgets; 12,500 gizmos; and 14,500 turnbols. Respective per unit selling prices at split-off are $75, $50, and $25. Joint costs up to the split-off point are $188,000. If joint costs are allocated based upon the sales value at split-off method, what amount of joint costs will be allocated to the Gizmos? (Do not round any intermediary calculations.)
6) The Kenton Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June: Direct Materials processed: 22,500 gallons (after shrinkage)
Production: | Butter Cream | 12,000 | gallons |
Condensed Milk | 10,500 | gallons | |
Sales: | Butter Cream | 11,500 | gallons |
Condensed Milk | 10,000 | gallons | |
Sales Price: | Butter Cream | $3.50 | per gallon |
Condensed Milk | $9.00 | per gallon | |
Separable costs in total: | Butter Cream | $15,000 | |
Condensed Milk | $35,800 |
The cost of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 22,500 gallons of saleable product was $51,000. The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Condensed Milk? (Round intermediary percentages to the nearest hundredth.)
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