Question
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 W-30 32,000 192,000 28,800 19,200 336,000 240,000 W-40 32,000 144,000 160,000 $960,000 12,000 $96,000 160,000 $1,102,000 Required: Assuming that total joint costs of $384,000 were allocated using the sales value at split-off (net realizable value method), what joint costs were allocated to each product? (Do not round intermediate calculations.) Joint Costs Product NRV at Split-Off Allocated W-10 $ $ W-20 $ $ W-30 $ W-40 $ $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started