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The Moody Company produced three joint products at a joint cost of $117,000. Two of these products were processed further. Production and sales were: Weight
The Moody Company produced three joint products at a joint cost of $117,000. Two of these products were processed further. Production and sales were:
Weight | Sales | Addt'l. Processing Costs | |
P | 317,000 lbs. | $ 262,000 | $ 217,000 |
Q | 108,500 lbs. | 34,250 | 0 |
R | 108,500 lbs. | 200,500 | 117,000 |
Assume Q is a by-product and Moody uses the cost reduction method of accounting for by-product cost. If estimated net realizable value is used, how much of the joint costs would be allocated to product R? (Round your final answer to the nearest whole dollar.) |
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