Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cheyenne Enterprises manufactures Nuts and Bolts from a joint process (cost = $82,000). Five thousand pounds of Nuts can be sold at split-off for $20

image text in transcribed
image text in transcribed
Cheyenne Enterprises manufactures Nuts and Bolts from a joint process (cost = $82,000). Five thousand pounds of Nuts can be sold at split-off for $20 per pound; ten thousand pounds of Bolts can be sold at split- off for $15 per pound. For product costing purposes Cheyenne allocates joint costs using the relative sales value method. The amount of joint cost allocated to Nuts and Bolts, respectively, would be: Multiple Choice O $49,200 and $32,800. O $41,000 and $32,800. O $32,800 and $49,200. O $41,000 and $41,000. O $32,800 and $41,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

28th Edition

1337902683, 978-1337902687

More Books

Students also viewed these Accounting questions

Question

5. How quickly can we manage to collect the information?

Answered: 1 week ago

Question

3. Tactical/strategic information.

Answered: 1 week ago

Question

3. To retrieve information from memory.

Answered: 1 week ago