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 $564,000. Additional Information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced Product Chem-1 Chem-2 Chem-3 Chem-4 291,000 179,000 195,000 147,000 812, eee Sales Value. at Split-Off $ 223,000 267,000 152,600 249,400 $ 892,000 NRV at Split- Off If Processed Further Joint Costs Allocated Additional Costs $ 33,000 29,700 25, 200 26,600 $ 114,500 Required: Barrett Chemicals uses the net realizable value 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 $263,000 293,000 183,000 273,000 $1,012,000
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 $564,000. Additional Information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced Product Chem-1 Chem-2 Chem-3 Chem-4 291,000 179,000 195,000 147,000 812, eee Sales Value. at Split-Off $ 223,000 267,000 152,600 249,400 $ 892,000 NRV at Split- Off If Processed Further Joint Costs Allocated Additional Costs $ 33,000 29,700 25, 200 26,600 $ 114,500 Required: Barrett Chemicals uses the net realizable value 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 $263,000 293,000 183,000 273,000 $1,012,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter11: Differential Analysis And Product Pricing
Section: Chapter Questions
Problem 4CMA: Oakes Inc. manufactured 40,000 gallons of Mononate and 60,000 gallons of Beracyl in a joint...
Related questions
Question
Vaibh
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning