At the end of his company's first year in operation, Daniel is allocating costs to the company's three main products: wheat flour. bleached white flour, and baking flour. These three products are produced from one main process, which costs the company $\$ 121,000 $. The compamy produced 5,940 pounds of wheat flour, 7,920 pounds of bleached white flour, and 4, 140 pounds of baking flour. Of the quantities produced, Daniel notes sales of $80\%, 90% $, and $60 \% $ of the wheat, white, and baking flour quantities available, respectively. Calculate how much of the joint costs will be allocated to each of the three joint products under the physical quantities method. (Round proportion to 2 decimol places, es. 0.25 and final ansvers to 0 dedimal ploces, es. 5.125)

At the end of his company's first year in operation, Daniel is allocating costs to the company's three main products: wheat flour. bleached white flour, and baking flour. These three products are produced from one main process, which costs the company $\$ 121,000 $. The compamy produced 5,940 pounds of wheat flour, 7,920 pounds of bleached white flour, and 4, 140 pounds of baking flour. Of the quantities produced, Daniel notes sales of $80\%, 90% $, and $60 \% $ of the wheat, white, and baking flour quantities available, respectively. Calculate how much of the joint costs will be allocated to each of the three joint products under the physical quantities method. (Round proportion to 2 decimol places, es. 0.25 and final ansvers to 0 dedimal ploces, es. 5.125)

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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