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
Chapter1: Financial Statements And Business Decisions
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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 $564,000. Additional Information follows:
Product
Chem-1
Chem-2
Chem-3
Chem-4
Units
Produced
291,000
179,000
195,000
147,000
812,000
Product
Chem-1
Chem-2
Chem-3
Chem-4
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
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.
$ 33,000
29,700
25, 200
26,600
$ 114,500
Sales Values
$ 263,000
293,000
183,000
273,000
$ 1,012,000
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