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Convad 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.
Convad 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 2014,Convadreported the following production and selling-price information:
Requirement: Allocate the 321,000 joint costs using the NRV method. (Round the weights to two decimal places.)
Corn Syrup Corn Starch Joint Costs 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 $ 321,000 $430,560 $94,740 0 12,900 6,500 52 S 25
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