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Renkas Company is one of the world's leading corn refiners. It produces two joint products-corn syrup and corn starch-using a common production process. In July
Renkas Company is one of the world's leading corn refiners. It produces two joint products-corn syrup and corn starch-using a common production process. In July 2020, Renkas reported the following production and selling-price information: (Click the icon to view the information.) Requirement Allocate the $326,000 joint costs using the NRV method. (Round the weights to two decimal places.) Data table Corn syrup Corn starch Total A B D Final sales value of total production 1 Deduct separable costs NRV at splitoff point Weighting Joint costs allocated 2 Joint costs (costs of processing corn to splitoff point) 3 Separable cost of processing beyond splitoff point Corn Syrup Corn Starch Joint Costs $ 326,000 $ 406,340 $ 97,060 4 Beginning inventory (cases) 0 0 5 Production and Sales (cases) 6 Ending inventory (cases) 7 Selling price per case 13,000 5,900 0 0 $ 51 $ 26 Help me solve this Etext pages Get more help Print Done - wer
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