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The Moody Company produced three joint products at a joint cost of $113,000. Two of these products were processed further. Production and sales were: Weight
The Moody Company produced three joint products at a joint cost of $113,000. Two of these products were processed further. Production and sales were:
Weight | Sales | Addt'l. Processing Costs | |
P | 313,000 lbs. | $ 258,000 | $ 213,000 |
Q | 106,500 lbs. | 33,250 | 0 |
R | 106,500 lbs. | 194,500 | 113,000 |
What is the net income of Moody Company if the estimated net realizable value method of joint cost allocation is used? |
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