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Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $151,000. The sales value at split- off was $162,720
Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $151,000. The sales value at split- off was $162,720 for 1,600 units of Kappa and $63,280 for 2,400 units of Lambda. Required: a. What joint costs are allocated to the two products using the net realizable value at split-off approach? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts. b. What joint costs are allocated to the two products using the physical quantities method? Note: Do not round intermediate calculations. a. Net realizable value method b. Physical quantities method Kappa Lambda Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $151,000. The sales value at split- off was $162,720 for 1,600 units of Kappa and $63,280 for 2,400 units of Lambda. Required: a. What joint costs are allocated to the two products using the net realizable value at split-off approach? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts. b. What joint costs are allocated to the two products using the physical quantities method? Note: Do not round intermediate calculations. a. Net realizable value method b. Physical quantities method Kappa Lambda
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