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es Top Notch Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Top Notch Chicken is computing the ending inventory
es Top Notch Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Top Notch Chicken is computing the ending inventory values for its July 31, 2020, balance sheet. Ending inventory amounts on July 31 are 12 pounds of breasts, 2 pounds of wings, 8 pounds of thighs, 6 pounds of bones, and 3 pounds of feathers. Top Notch Chicken's management wants to use the sales value at splitoff method. However, management wants you to explore the effect on ending inventory values of classifying one or more products as a byproduct rather than a joint product. (Click to view information on the sales value at splitoff method.) Read the requirements. Requirement 1. Assume Top Notch Chicken classifies all five products as joint products. What are the ending inventory values of each product on July 31, 2020? (Round your answers to the nearest cent. Ente an amount for each product including zero balances.) Product Breasts Wings Thighs Bones Feathers Total Ending inventory value Get more help Reference Pounds of product Breasts Wings Thighs Bones Feathers Total 90 25 35 45 5 200 Wholesale selling price per pound $ 0.40 $ 0.25 $ 0.45 $ 0.15 $ 0.05 Sales value at splitoff $ 36.00 $ 6.25 $ 15.75 $ 6.75 $ 0.25 $ 65.00 Weighting: Sales Value at splitoff 0.554 0.096 0.242 0.104 0.004 1.000 Joint costs allocated $ 22.16 $ 3.84 $ 9.68 $ 4.16 $ 0.16 $ 40.00 Allocated costs per pound $ 0.2462 $ 0.1536 $ 0.2766 $ 0.0924 $ 0.0320 Check answer
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