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two questions attatched Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at
two questions attatched
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $220,000: After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M 20, 000 $ 20,000 $260,000 14, 000 20, 000 240, 000 15, 000 5,000 45, 000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations. Enter your final answers in whole dollars.) Product Allocated Joint Cost M N TChoi Company manufactures two skin care lotions, Smooth Skin and Silken Skin, from ajoint process. Thejoint costs incurred are $340,000 for a standard production run that generates 140,000 pints of Smooth Skin and 180,000 pints of Silken Skin. Smooth Skin sells for $3.60 per pint, while Silken Skin sells for $5.30 per pint. (Do not round intermediate calculations. Round nal answers to nearest whole dollar amounts.) Required: 1. Assuming that both products are sold at the split-off point, how much of the joint cost of each production run is allocated to Smooth Skin using the relative sales value method? 2. If no separable costs are incurred after the split-off point, how much of the joint cost of each production run is allocated to Silken Skin using the physical measure method? 3. If separable processing costs beyond the split-off point are $1.00 per pint for Smooth Skin and $1.20 per pint for Silken Skin, how much of thejoint cost of each production run is allocated to Silken Skin using a net realizable value method? 4. If separable processing costs beyond the split-off point are $1.00 per pint for Smooth Skin and $1.20 per pint for Silken Skin, how much of thejoint cost of each production run is allocated to Smooth Skin using a physical measure method? Relative sales value method - Smooth Skin Physical measure method - Silken Skin Net realizable value method - Silken Skin Physical measure method - Smooth SkinStep by Step Solution
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