Question
The Alfarm Corporation processes raw. milk up to The split off point where two products, cream and liquid skim, are produced and sold. There was
The Alfarm Corporation processes raw. milk up to The split off point where two products, cream and liquid skim, are produced and sold. There was no beginning inventory.The following material was collected for The month of February: Direct material processes : 780000 gallons (758000 gallons of good product).Production: cream : 446000000.Liquid skim 312000.Sales : Cream 427000 @t $ 140 per gallons. Liquid skim 301000.The cost of purchasing 780000 gallons of Direct materials and processing it up to The split off point to yield a total of 758000 gallons of good product was 2350000.When using a physical volume measure, what is The approximate amount of joint cost that will be allocated to cream and liquid skim? (Round intermediary percentages to The nearest hundredth.)
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