Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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 $582,000. 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 $582,000. Additional information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced 264,000 208,000 200,000 128,000 800,000 Product Chem-1 Chem-2 Chem-3 Chem-4 Joint Costs Allocated If Processed Further Sales Value at Additional Costs Split-Off $ 200,640 312,000 156,000 217,600 $ 886,240 Sales Values $ 237,600 $ 29,040 33,280 24,000 23,040 $ 109,360 $ 1,006, 220 Required: Barrett Chemicals uses the physical quantities 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. 341, 120 187,500 240,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started