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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
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 productStep by Step Solution
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