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Company is one of the world's leading corn refiners. It produces two joint products, corn syrup and corn starch, using a common production process. In
Company is one of the world's leading corn refiners. It produces two joint products, corn syrup and corn starch, using a common production process. In July 2018, Stenback reported the following production and selling price information: (Click the icon to view the production and selling price information.) Required Allocate the $328,000 joint costs using the NRV method. (Round the weightings to two decimal places.) Corn Syrup Corn Starch Total Final sales value of total production Deduct separable costs NRV at splitoff point Weighting 1 Production and selling price information Joint costs allocated Joint costs (costs of processing corn to splitoff point) Separable cost of processing beyond splitoff point Beginning inventory (cases) Production and sales (cases) Ending inventory (cases) Selling price per case Corn Syrup Corn Starch Joint Costs $ 328,000 $ 372,760 $ 65,040 0 0 12,400 5,800 0 0 49 $ 24 Print Done Enter any number in the edit fields and then continue to the next
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