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 $582,000. Additional information follows: Product Chen-1 Chen-2 Chem-3 Chem-4 Units Produced 264,000 208,000 200,000 128,000 800,000 Product Chem-1 Chem-2 Chem-3 Chem-4 If Processed Further Joint Costs Allocated Sales Value at Additional Costs Split-Off $ 200,640 312,000 156,000 217,600 $ 886,240 $ 109,360 $ 29,040 33,280 24,000 23,040 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. $ 237,600 341,120 187,500 240,000 $ 1,006, 220
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 $582,000. Additional information follows: Product Chen-1 Chen-2 Chem-3 Chem-4 Units Produced 264,000 208,000 200,000 128,000 800,000 Product Chem-1 Chem-2 Chem-3 Chem-4 If Processed Further Joint Costs Allocated Sales Value at Additional Costs Split-Off $ 200,640 312,000 156,000 217,600 $ 886,240 $ 109,360 $ 29,040 33,280 24,000 23,040 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. $ 237,600 341,120 187,500 240,000 $ 1,006, 220
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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 $582,000. Additional information follows:
Product
Chem-1
Chem-2
Chem-3
Chem-4
Units
Produced
264,000
208,000
200,000
128,000
800,000
Product
Chem-1
Chem-2
Chem-3
Chem-4
If Processed Further.
Joint Costs
Allocated
Sales Value at Additional
Split-Off Costs
$ 200,640
$ 29,040
312,000
33,280
156,000
24,000
217,600
23,040
$ 886,240 $ 109,360
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
$ 237,600
341, 120
187,500
240,000
$1,006,220
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