H4 Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs inMay were $592,000. Additional information follows:ProductChem-1Chem-2Chem-3Chem-4ProductChem-1UnitsProduced272,000184,000192,000152,000800,000Chem-2Chem-3Chem-4If Processed FurtherJoint CostsAllocatedSales Value at AdditionalSplit-OffCosts$ 206,720276,000149,760258,400$890,880Required:Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product inMay?Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts.$ 29,92029,44023,04027,360$ 109,760Sales Values$ 244,800301,760180,000285,000$ 1,011,560

The expense that manufacturers suffer while producing multiple products or processes is referred to…

Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $592,000. Additional information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced Product Chem-1 Chem-2 Chem-3 Chem-4 272,000 184,000 192,000 152,000 800,000 Joint Costs Allocated If Processed Further Sales Value at Additional Costs Split-Off $ 206,720 276,000 149,760 258,400 $ 890,880 $ 29,920 29,440 23,040 27,360 $ 109,760 Required: Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Sales Values $ 244,800 301,760 180,000 285,000 $ 1,011,560

Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $592,000. Additional information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced Product Chem-1 Chem-2 Chem-3 Chem-4 272,000 184,000 192,000 152,000 800,000 Joint Costs Allocated If Processed Further Sales Value at Additional Costs Split-Off $ 206,720 276,000 149,760 258,400 $ 890,880 $ 29,920 29,440 23,040 27,360 $ 109,760 Required: Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Sales Values $ 244,800 301,760 180,000 285,000 $ 1,011,560

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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