Question
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 Further Product Units
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 Further Product Units Produced Sales Value at Split-Off Additional Costs Sales Values W-10 60,200 $ 360,000 $ 38,700 $ 393,000 W-20 43,000 309,000 30,900 360,000 W-30 34,400 207,000 20,700 258,000 W-40 34,400 156,000 12,900 172,000 172,000 $ 1,032,000 $ 103,200 $ 1,183,000 Required: Assuming that total joint costs of $381,840 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.)
Required: Assuming that total joint costs of $381,840 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.)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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