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Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows:
Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: Units Produced 290,000 Sales Value at Split-Off $ 222,000 266,000 If Processed Further Additional Costs $ 32,900 29,600 Sales Values $ 262,000 292,000 Product Chen-1 Chem-2 178,000 Chem-3 194,000 Chen-4 146,000 808,000 151,600 248,400 $ 888,000 25,100 26,500 272,000 $ 114,100 $ 1,008,000 182,000 Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Answer is complete but not entirely correct. NRV at Joint Costs Product Split-Off Allocated Chem S 229,100 $ 144,553) 1 Chem 2 S 262,400 S 165,590 2 Chem- $ 156,900 $ 98,982 3 Chem S 245,500 x S 154,875
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