Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $165,000 for materials and $260,000 for conversion costs. P-11 has a sales value of $720,000 and P-12 has a sales value of $180,000. Required Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.) Cost Assigned P-11 P-12 Blasto, Inc., operates several mines. At one, a typical batch of ore run through the plant yields three products: lead, copper, and manganese. At the split-off point, the intermediate products cannot be sold without further processing. The lead from a typical batch sells for $44,000 after incurring additional processing costs of $11,000. The copper is sold for $91,000 after additional processing costs of $16,000, and the manganese yield sells for $62,000 but requires additional processing costs of $20,000. The joint costs of processing the raw ore, including the cost of mining, are $120,000 per batch. Required: Use the estimated net realizable value method to allocate the joint processing costs. (Do not round intermediate calculations.) Approximate sales value at split-off Percent of total sales values at split-off Cost allocation Lead % Copper % 10 Manganese do % 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 Units Sales Value at Product Produced Split-Off Additional Costs Sales Values W-10 53,200 $316,000 $ 34,100 $ 346,000 W-20 38,000 272,000 27,200 316,000 W-30 30,400 184,000 18,400 228,000 W-40 30,400 140,000 11,400 152,000 152,000 $912,000 $ 91,100 $1,042,000 Required: Assuming that total joint costs of $410,400 were allocated using the physical quantities method, what joint costs were allocated to each product? (Do not round intermediate calculations.) Joint Costs Product Allocated W-10 W-20 W-30 W-40 Fletcher Fabrication, Inc., produces three products by a joint production process. Raw materials are put into production in Department X, and at the end of processing in this department, three products appear. Product A is sold at the split-off point with no further processing. Products B and C require further processing before they are sold. Product B is processed in Department Y, and product C is processed in Department Z. The company uses the estimated net realizable value method of allocating joint production costs. Following is a summary of costs and other data for the quarter ended June 30. No inventories were on hand at the beginning of the quarter. No raw material was on hand at June 30. All units on hand at the end of the quarter were fully complete as to processing. Products Pounds sold Pounds on hand at June 30 Sales revenues A B C 19,000 47,000 57,000 0 71,000 43,000 $ 43,700 $273,600 $372,750 Departments Raw material cost Direct labor cost Manufacturing overhead X Y Z $ 168,000 $ 72,000 26,000 0 $ 91,000 284,500 31,500 106,500 0 Required: a. Determine the following amounts for each product: (Do not round intermediate calculations.) (1) Estimated net realizable value used for allocating joint costs. Estimated net realizable values Product Product A Product B Product C Total $ 0 (2) Joint costs allocated to each of the three products. Products Joint Costs Product A Product B Product C Total $ 0 (3) Cost of goods sold. Product A Product B Cost of Goods Sold Product C Total $ 0 (4) Finished goods inventory costs, June 30. Ending Inventory Product A Product B Product C Total $ 0 b. Assume that the entire output of product A could be processed further at an additional cost of $5.50 per pound and then sold for $12.50 per pound. Compute the incremental income from further processing A. Incremental income c. Considering the results of part b, should the company process product A further? 00 Yes O No Blaine, Inc., produces three products, Argon, Xon, and Zeon, from a joint production process. Data on the process are as follows: Required: Determine the value for each missed item. (Do not round intermediate calculations.) Product Argon Xon Zeon Total Allocated joint cost $ 100 $ 630 Sales value at split-off $ 145 $ 1,435 Additional processing costs $ 105 $ 205 Sales value if processed $ 260 $ 410 $ 1,310 Contribution from processing further $ 10 $ 0 $ 170 Units produced 1,850 2,350 4,100 8,300