Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Stulce Incorporated produces joint products A, B, and C from a joint process. Information concerning a batch produced in May at a joint cost of
Stulce Incorporated produces joint products A, B, and C from a joint process. Information concerning a batch produced in May at a joint cost of $120,000 was as follows: A B C Total Units Sold 2,500 4,000 1,500 8,000 Price (after additional processing) $35 $22 $15 Separable Processing cost Units Produced $ 35,000 $ 12,000 $ 16,000 $ 63,000 Total Joint Cost 2,500 4,000 1.500 8,000 120,000 $25.00 $12.00 $13.00 Sales Price at Split-off Sales Value (after additional processing) $ 87,500 $ 88,000 $ 22,500 $ 198,000 Sales Value at Split Off $ 62,500 $ 48,000 $ 19,500 $130,000 Required: (Calculate all ratios, percentages, and unit costs to 2 decimal places, for example 33.33%, and round all dollar amounts to the nearest whole dollar.): 1. Allocate the joint costs to the joint products using the physical measure method. 2. Allocate the joint costs to the joint products using the net realizable method
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started