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Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows. Product Units Produced Sales
Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows. Product Units Produced Sales Value at Split-Off Additional Costs If Processed Further Sales Values W-10 56,000 $336,000 $36,000 $ 366,000 W-20 40,000 288,000 28,800 336,000 W-30 32,000 192,000 19,200 240,000 W-40 32,000 144,000 12,000 160,000 160,000 $960,000 $96,000 $1,102,000 Required: Assuming that total joint costs of $384,000 were allocated using the physical quantities method, what joint costs were allocated to each product? (Do not round intermediate calculations.) Answer is complete but not entirely correct. Product W-10 Joint Costs Allocated $ 134,400 W-20 $ 11,520 W-30 $ 76,800 W-40 $ 57,600 x
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