Answered step by step
Verified Expert Solution
Link Copied!

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 $194,000. Additional information

image text in transcribed

The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $194,000. Additional information follows. Units Product Produced KA 82,500 KB 57,750 KC 24,750 If Processed Further Sales Value at Split-off Sales Values Additional Costs $ 264,000 $330,000 $ 45,000 231,000 300,000 40,000 165,000 240,000 32,000 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 $45,000 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 $40,000 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 $45,000 if processed further)? (Do not round intermediate calculations.) Total cost of product KA

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_2

Step: 3

blur-text-image_3

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

More Books

Students also viewed these Accounting questions