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Please answer all parts of the question and show all of your work, and thinking to get to your answers, thanks. Choi Company manufactures two
Please answer all parts of the question and show all of your work, and thinking to get to your answers, thanks. Choi Company manufactures two skin care lotions, Smooth Skin and Silken Skin, from a joint process. The joint costs incurred are
$ for a standard production run that generates pints of Smooth Skin and pints of Silken Skin. Smooth Skin
sells for $ per pint, while Silken Skin sells for $ per pint.
Required:
Assuming that both products are sold at the splitoff point, how much of the joint cost of each production run is allocated to Smooth
Skin using the relative sales value method?
If no separable costs are incurred after the splitoff point, how much of the joint cost of each production run is allocated to Silken
Skin using the physical measure method?
If separable processing costs beyond the splitoff point are $ per pint for Smooth Skin and $ per pint for Silken Skin, how
much of the joint cost of each production run is allocated to Silken Skin using a net realizable value method?
If separable processing costs beyond the splitoff point are $ per pint for Smooth Skin and $ per pint for Silken Skin, how
much of the joint cost of each production run is allocated to Smooth Skin using a physical measure method?
For all requirements, do not round intermediate calculations. Round final answers to nearest whole dollar amounts.
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