Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marin Products produces three products - DBB-1, DBB-2, and DBB-3 from a joint process. Each product may be sold at the split-off point or

image text in transcribedimage text in transcribed

Marin Products produces three products - DBB-1, DBB-2, and DBB-3 from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Key Information about Marin's production, sales, and costs follows. DBB-1 DBB-3 Total 99,000 DBB-2 21,000 33,000 45,000 45 $ 30 $ 65 $372,000 $151,000 $222,000 $ 745,000 21,000 33,000 45,000 99,000 $6,200,000 Units Sold Price (after addt'l processing) $ Separable Processing cost Units Produced Total Joint Cost Sales Price at Split-off $ 15 $ 25 $ 45 The amount of joint costs allocated to product DBB-1 using the net realizable value method is (calculate all ratios and percentages to 2 decimal places, for example 33.33%, and round all dollar amounts to the nearest whole dollar): $1,264,180. $632,790. $863,040. $1,315,020. $4,072,780.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions