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Computing Joint Costs-Sales Value at Split-Off and Net Realizable Value Methods LeMoyne Manufacturing Inc.'s joint cost of producing 2,000 units of Product X, 1,000 units
Computing Joint Costs-Sales Value at Split-Off and Net Realizable Value Methods LeMoyne Manufacturing Inc.'s joint cost of producing 2,000 units of Product X, 1,000 units of Product Y, and 1,000 units of Product Z is $50,000. The unit sales values of the three products at the split-off point are Product X-$30, Product Y-$100, and Product 2-$90.Ending ventories include 200 units of Product X, 300 units of Product Y, and 100 units of Product Z. In your interim calculations, round sales value percentages to two decimal places and allocated joint cost to three decimal places a. Compute the amount of joint cost that would be included in the ending inventory valuation of the three products on the basis of their sales values at split-off 9000 b. Assume that Product Z can be sold for $120 a unit if it is processed after split-off at a cost of $10 a unit. Compute the amount of joint cost that would be included in the ending inventory valuation of the three products on the basis of their net realizable values. Hide Feedback Partially Correct CheckMy Work Feedback To determine the ending inventory valuation, you will first have to calculate the cost per unit. Relative Sales Value First, calculate the total sales value of each product, then allocate the joint costs
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