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Joint Allocation - Net Realizable Value Method If possible, please provide the proper Excel formulas on how to receive your answers. Thank you so much
Joint Allocation - Net Realizable Value Method
If possible, please provide the proper Excel formulas on how to receive your answers. Thank you so much for your help!!
Nature's Garden Inc. produces wood chips, wood pulp, and mulch. These products are produced through harvesting trees and sending the logs through a wood chipper machine. One batch of logs produces 20,824 cubic yards of wood chips, 14,900 cubic yards of mulch, and 9,844 cubic yards of wood pulp. The joint production process costs a total of $37,000 per batch. After the split-off point, wood chips are immediately sold for $23 per cubic yard while wood pulp and mulch are processed further. The market value of the wood pulp and mulch at the split-off point is estimated to be $28 and $22 per cubic yard, respectively. The additional production process of the wood pulp costs $3 per cubic yard, after which it is sold for $38 per cubic yard. The additional production process of the mulch costs $2 per cubic yard, after which it is sold for $32 per cubic yard. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Allocate the joint costs of production to each product using the net realizable value method. Do not round intermediate calculations. Round your answers to the nearest dollar. Nature's Garden Inc. produces wood chips, wood pulp, and mulch. These products are produced through harvesting trees and sending the logs through a wood chipper machine. The following data is provided: REQUIRED: Allocate the joint costs of production to each product using the net realizable value method. Do not round intermediate calculations. Round your answers to the nearest dollar. Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWv2 for gradingStep by Step Solution
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