A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs $12,800. None of the products can be sold at split-off, but must processed further. Information on one batch of the three products is as follows: Product L-Ten Grades L-Ten Triol Gallons 3,300 3,800 2,500 Triol Pioze Required: 1. Allocate the joint cost to L-Ten, Triol, and Pioze using the net realizable value method. Round your allocation percentages to four decimal places and round the alloca costs to the nearest dollar. Pinze Further Processing Cost per Gallon $0.40 0.90 1.40 Joint Cost Eventual Market Price per Gallon $2.20 Allocation 4.90 6.30

A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs $12,800. None of the products can be sold at split-off, but must processed further. Information on one batch of the three products is as follows: Product L-Ten Grades L-Ten Triol Gallons 3,300 3,800 2,500 Triol Pioze Required: 1. Allocate the joint cost to L-Ten, Triol, and Pioze using the net realizable value method. Round your allocation percentages to four decimal places and round the alloca costs to the nearest dollar. Pinze Further Processing Cost per Gallon $0.40 0.90 1.40 Joint Cost Eventual Market Price per Gallon $2.20 Allocation 4.90 6.30

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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