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please solve By-product; net realizable value method Weinberg Canning produces fillet, smoked salmon, and saimon remnants in a single process. The same amount of disposal
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By-product; net realizable value method Weinberg Canning produces fillet, smoked salmon, and saimon remnants in a single process. The same amount of disposal cost is incurred whether a product is sold at split-off or atter further processing. In October, the joint cost of the production process was $284,000. a The remnants are considered a by-product of the process and are soid to cat fosd processors. Allocate the jeint cost based on appraximated net realizable yalue at split-off. Use the net realizabie value method to accours for the by.product, subtracting the by.product cost from the cost of Work in Process inventory-joint Products. b. Determine the value of ending Finshed Goods imentory, assuming that 8,000 pounds of saimon fillets. 4,800 pounds of smoked salmon, and 700 pounds of saimon remnans were spid. Note: Round cost per pound to the nearest penny in your calculations Step by Step Solution
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