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Required information (The following information applies to the questions displayed below] The following Information relates to a joint production process for three products, with a
Required information (The following information applies to the questions displayed below] The following Information relates to a joint production process for three products, with a total Joint production cost of $100,000. There are no separable processing costs for any of the three products. Product Sales Value at Split-Oft $138,888 58,098 20,000 $ 200,000 Units at Split-Off 240 968 1,200 2,400 What percentage of joint cost is allocated to each of the three products using the sales value at split-off method? Product Percent of Sales Value Required Information The following information applies to the questions displayed below.) The following Information relates to a joint production process for three products, with a total joint production cost of $100,000. There are no separable processing costs for any of the three products Product Sales Value at Split-Off $130, eee se, 630 2e, se $200,000 Unitat Split-01 240 960 1,200 2.400 What percentage of joint cost is allocated to each of the three products using the physical units method? Product Percent of Sales Units Required information The following Information applies to the questions displayed below) The following information relates to a joint production process for three products, with a total Joint production cost of $100,000. There are no separable processing costs for any of the three products Product 1 2 3 Sales Value at Split 01 $130, eee 50,000 20,000 52e8,eee Units at Split-Off 240 960 1.200 2,400 Assume that the total sales value at the split-off point for product is $50,000 instead of $130,000 and the sales value of product 3 is $2.000 instead of $20,000. Assume also that, because of its relatively low sales value, the firm treats product 3 as a by-product and uses the asset recognition method for accounting for by-products. What amount of joint cost would be allocated to the products using the sales value at split-off method? Product Allocated Joint Cost 1 2 3 Required Information [The following information applies to the questions displayed below) The following information relates to a joint production process for three products with a total joint production cost of $100.000 There are no separable processing costs for any of the three products. Sales Value at Units at Split-OFF Split-04 $110,000 50,00 20.000 1,200 $200,000 2,400 Product 240 SO Assume that the total sales value at the split-off point for product 11 $50,000 instead of $130,000 and the sales value of product 3 is $2,000 instead of $20,000. Assume also that the firm treats product 3 as a joint product and uses the net realizable value method for accounting for joint costs. There are no separable processing costs for product 3. What amount of joint costs would be allocated to the three products using the relative sales value method? (Round your intermediate percentage values to 2 decimal places (le. 24.35%) and final answers to nearest whole dollar amount) Product Allocated Joint Cost 1 2
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