cost accounting ch7

CoursHeroTranscribedText: Required information [The following information applies to the questions displayed below.] The following information relates to a joint production process for three products, with a total joint production cost of $185,000. There are no separable processing costs for any of the three products. Sales Value Units at Product at Split-off Split-off $203, 500 540 WNH 92 , 500 1, 080 74 , 000 1, 980 $370 , 000 3, 600 Assume that the total sales value at the split-off point for product 1 is $92,500 instead of $203,500 and the sales value of product 3 is $3,700 instead of $74,000. Assume also that the firm treats product 3 as a joint product and uses the net realizable value method for accounting for joint costs. There are no separable processing costs for product 3. What amount of joint costs would be allocated to the three products using the relative sales value method? (Round your intermediate percentage values to 2 decimal places (i.e. 24.35%) and final answers to nearest whole dollar amount.) Product Allocated Joint Cost N 3