Question
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
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.
This is all the informations given, there's nothing else to be undated.
Fletcher Fabrication, inc, produces hree peoducts by a joint production process at the split-of point with no further processing. Products 8 and C require turther Raw materials are put into production in Department X. and at the end of processing in thes department three products appear Phoduct A s sold processing before they are sold. Product B is processed in Department Y, and product C is processed in Department 2 the compary sses the estimated net realizabie alue 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. A units on hand at the end of the quarter were fuly complete as to processing Pounds on hand at June 30 8,000 40.,000 48 550 $ 302,400 501,500 280 ,500 Required: a. Desermine the tollowing (1) Estmated net reaiza amounts for each product (Do not itle value used for allocating joint costs round intermediate calculations) (2) Joint costs alocated to each of the three productsStep by Step Solution
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