Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $198,000. Additional information
The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $198,000. Additional information follows. Units Product Produced KA 83,000 58,100 KC 24,900 If Processed Further Sales Value at Split-off Sales Values Additional Costs $272,000 $320,000 $54,000 238,000 280,000 42,000 170,000 220,000 33,000 KB 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 $54,000 if processed further)? (Do not round intermediate calculations.) Total cost of product KA 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 $42,000 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
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