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HERNANDEZ Canning Company processes tomatoes into catsup and tomato juice. During the summer of 2019, the joint costs of processing the tomatoes were $400,000. There
HERNANDEZ Canning Company processes tomatoes into catsup and tomato juice. During the summer of 2019, the joint costs of processing the tomatoes were $400,000. There was no beginning or ending inventories for the summer. Production and sales value information for the summer is as follows: Product Catsup Juice Cases Sales Value at Separable Costs Selling Price Split-off Point in TOTAL) [in TOTAL) 25,000 $8 $280,000 $500,000 75,000 4 per case! $520,000 $1,100,000 per case Required: Determine the amount of joint costs allocated to CATSUP if the estimated net realizable value method is used. [Please note that the selling price for sales value at split-off point is per case of tomatoes...while the selling prices for separable costs and final sales values are in total. B. none A. $520,000 $280,000 OC. of the other answers OD. $110,000 O E. $290,000 OF. $234,000 OG.$310,000 OH.$300,000 Required: Determine the amount of joint costs allocated to CATSUP if the constant gross-margin percentage method is used. [Please note that the selling price for sales value at split-off point is per case of tomatoes...while the selling prices for separable costs and final sales values are in total O A. $290,000 B. $110,000 C. $160,000 D.$520,000 E. $240,000 OF. $95,000 G. none of the other answers OH. $305,000
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