Question
Allocating joint cost Keiffer Production manufactures three joint products in a single process. The following information is available for August: Sales Value at Split-Off Cost
Allocating joint cost Keiffer Production manufactures three joint products in a single process. The following information is available for August:
| Sales Value | ||||
|---|---|---|---|---|
| at Split-Off | Cost after | Final Selling | ||
| Product | Gallons | per Gallon | Split-Off | Price |
| JP-4539 | 3,600 | $14.00 | $4.00 | $24.00 |
| JP-4587 | 14,400 | 25.00 | 5.00 | 35.00 |
| JP-4591 | 10,800 | 18.00 | 2.00 | 22.00 |
Allocate the joint cost of $446,400 to the production based on the following: a. number of gallons. Note: Round proportions to the nearest tenth of a percentage (i.e. round 13.45% to 13.5%) and dollar amounts to the nearest whole dollar.
| JP-4539 | |
| JP-4587 | |
| JP-4591 | |
| Total |
b. sales value at split-off. Note: Round proportions to the nearest whole percentage (i.e. round 13.45% to 13%) and dollar amounts to the nearest whole dollar.
| JP-4539 | |
| JP-4587 | |
| JP-4591 | |
| Total |
c. approximated net realizable values at split-off. Note: Round proportions to the nearest whole percentage (i.e. round 13.45% to 13%) and dollar amounts to the nearest whole dollar.
| JP-4539 | |
| JP-4587 | |
| JP-4591 | |
| Total |
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Fraud examination
Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma
4th edition
538470844, 978-0538470841
