Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Deming & Sons manufactures four grades of lubricant, W - 1 0 , W - 2 0 , W - 3 0 , and W

Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows.
If Processed FurtherDeming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process.
Additional information follows.
Required:
Assuming that total joint costs of $462,480 were allocated using the physical quantities method, what joint
costs were allocated to each product? (Do not round intermediate calculations.)
Product Units Produced Sales Value at Split-Off Additional Costs Sales Values
W-1065,800 $ 392,000 $ 42,300 $ 429,000
W-2047,000337,00033,700392,000
W-3037,600227,00022,700282,000
W-4037,600172,00014,100188,000
188,000 $ 1,128,000 $ 112,800 $ 1,291,000
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial Accounting Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

5th Canadian edition

978-1118024492

Students also viewed these Accounting questions