Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The answer is around 38000, but i get 40360 and i don't get where i do the wrong calculations.... Vanilla and chocolate ice-cream are created

The answer is around 38000, but i get 40360 and i don't get where i do the wrong calculations....

image text in transcribed
Vanilla and chocolate ice-cream are created from a joint process. The following data are available of last period: Total joint production costs: $776,160 Vanilla ice-cream: 12,000 liters produced; 10,000 liters sold; $10 selling price/liter Chocolate ice-cream: 10,000 liters produced; 9,000 liters sold, $12 selling pricelliter Using the sales value method of apportioning joint production costs, what was the value of the closing inventory of chocolate ice-cream

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

Recommended Textbook for

Accounting Principles

Authors: Jerry J Weygandt

10th Edition

1118009282, 9781118009284

More Books

Students also viewed these Accounting questions