Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Thank you! The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $199,000.

image text in transcribedimage text in transcribed

Thank you!

The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $199,000. Additional information follows. If Processed Further Units Product Produced KA 81,000 KB 56,700 KC 24,300 Sales Value at Split-Off $ 248,000 217,000 155,000 Sales Values Additional costs $330,000 $49,000 290,000 43,000 220,000 34,000 Required: a. Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product KA (including $49,000 if processed further)? b. Assuming that joint product costs are allocated using the sales value at split-off (net realizable value method), what was the total cost of product KB (including the $43,000 if processed further)? Complete this question by entering your answers in the tabs below. Required A Required B Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product KA (including $49,000 if processed further)? (Do not round intermediate calculations.) Total cost of product KA Required A Required B > Required A Required B Assuming that joint product costs are allocated using the sales value at split-off (net realizable value method), what was the total cost of product KB (including the $43,000 if processed further)? (Do not round intermediate calculations.) Total cost of product KB

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions