Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please complete in excel Joint Process Problem Download the file to complete the problem in Excel, then upload your file in the answer box Joint

Please complete in excel

image text in transcribed

Joint Process Problem Download the file to complete the problem in Excel, then upload your file in the answer box Joint Process File In a joint process The Lexi Company produces four chemicals Zeta290, Tau213, Gamma234, and Sigma79. Tau213 cannot be sold at the split off point so it has to be processed further. Zeta does not have an option to be processed further. The remaining products may be sold at its split-off point or processed further. Joint processing costs for a single batch of the joint products are $126,000. Other relevant data are as follows: 450 Total Sales Value Additional Total Sales Value of Product Liters Produced At Split-Off Processing Costs Final Product Zeta290 280 $59,405 $0 $59,405 Tau213 250 $0 15,000 62,524 Gamma234 71,286 28,000 90,784 Sigma79 220 51,700 10,000 69,405 Total 1,200 $182,391 $53,000 $282,118 REQUIRED 1. Determine which products should be processed further. 2. If it is determined to not process a product further, it will be sold at the split off point (see your answer to part 1). Allocate the joint cost to the four primary products using the approximated net realizable value method (round to whole dollars). 3. If all liters of each of the four chemicals are sold what is the gross profit of each product

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

Advanced Management Accounting

Authors: Maurice L. Hirsch Jnr.

2nd Edition

1861526768, 978-1861526762

More Books

Students also viewed these Accounting questions

Question

mple 10. Determine d dx S 0 t dt.

Answered: 1 week ago

Question

Do you set targets to reduce complaints?

Answered: 1 week ago