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requirement 1

requirement 2

requirement 3

ts Reference SI Breast Wings Thighs Bones Feathers Total Pounds of product Wholesale selling price 150 30 30 75 15 300 $ 0.70 $ 0.20 $ 0.35 $ 0.10 $ 0.05 per pound Sales value at splitoff 105.00$ 6.00$ 10.50 $ 7.50$ 0.75 $ 129.75 Weighting: Sales Value at splitoff 0.809 0.046 0.081 0.058 0.006 1.000 Joint costs allocated $ 64.72$ 3.68 $ 6.48 $ 4.64 $ 0.48 $ 80.00 Allocated costs per pound $ 0.4315 $ 0.1227 $ 0.2160 $ 0.0619 $ 0.0320 Print Done A -One Chicken grows and processes chickens. Each chicken is disassembled into five main parts. A-One A -One Chicken's management wants to use the sales value at splitoff method. However, management wants Chicken is computing the ending inventory values for its July 31, 2017, balance sheet. Ending inventory amounts you to explore the effect on ending inventory values of classifying one or more products as a byproduct rather on July 31 are 15 pounds of breasts, 8 pounds of wings, 5 pounds of thighs, 10 pounds of bones, and 2 pounds of than a joint product feathers (Click to view information on the sales value at splitoff method) Read the requirements. Requirement 1. Assume A-One Chicken classifies all five products as joint products. What are the ending inventory values of each product on July 31, 20177 (Round your answers to the nearest cent. Enter an amount for each product including zero balances.) Ending inventory value Breasts Wings Thighs Bones Feathers Total Enter any number in the edit fields and then click Check Answer Requirement 2. Assume Organic Chicken uses the production method of accounting for byproducts. What are the ending inventory values for each joint product on July 31, 2017, assuming breasts and thighs are the joint products and wings, bones, and feathers are byproducts? Begin by selecting the formula to calculate the joint costs to be allocated. Then enter the amounts and determine the amount. (NRV Net Realizable Value.) Joint costs NRV of byproducts Joint costs to be allocated Weighting: Sales value at splitoff Joint costs allocated Allocated costs per pound