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please help me with the last two incorrect bottoms. Northern Company processes 100 gallons of raw materials into 75 gallons of product GS-50 and 25
please help me with the last two incorrect bottoms.
Northern Company processes 100 gallons of raw materials into 75 gallons of product GS-50 and 25 gallons of GS-80. GS-50 is further processed into 50 gallons of product GS-505 at a cost of $9,000, and GS-80 is processed into 50 gallons of product GS-805 at a cost of $6,000. Exhibit 1 depicts this manufacturing flow. The production process starts at point 1. A total of $28,000 in joint manufacturing costs are incurred in reaching point 2. Point 2 is the split-off point of the process that manufactures GS-50 and GS-80. At this point, GS-50 can be sold for $400 a gallon, and GS-80 can be sold for $80 a gallon. The process is completed at point 3-products GS-505 and GS-805 have a sales price of $596 a gallon and $224 a gallon, respectively. Required: Allocate the joint product costs and then compute the cost per unit using each of the following methods: (1) physical measure, (2) sales value at split-off, and (3) net realizable value. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Answer is complete but not entirely correct. Total (1) (2) 560 Physical measure Sales value at split-off Net realizable value GS-50 cost GS-80 cost per unit per unit S 280$ 280s s 350 $ 70 $ $ 299 X $ 224 XS 420 523 (3)Step by Step Solution
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