Batches Incorporated produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $75,000 was as follows: Separable Processing cost Units Produced Sales Value (after additional processing) Multiple Choice O $3,614. O $4,688. The amount of joint costs allocated to product M using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): O $23,438. O $33,434. L $ 10,000 1,200 $ 60,000 O $46,875. M $ 25,000 2,500 $ 50,000 N $ 2,000 4,300 $ 7,000 Total $ 37,00 8,00 $ 117,00
Batches Incorporated produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $75,000 was as follows: Separable Processing cost Units Produced Sales Value (after additional processing) Multiple Choice O $3,614. O $4,688. The amount of joint costs allocated to product M using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): O $23,438. O $33,434. L $ 10,000 1,200 $ 60,000 O $46,875. M $ 25,000 2,500 $ 50,000 N $ 2,000 4,300 $ 7,000 Total $ 37,00 8,00 $ 117,00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:TB MC Qu. 7-36 (Static) Joint costs allocated to product M using the net realizable value method: Batches
Incorporated
Batches Incorporated produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at
a joint cost of $75,000 was as follows:
Separable Processing cost
Units Produced
Sales Value (after additional processing)
Multiple Choice
O
C
The amount of joint costs allocated to product M using the net realizable value method is (calculate all ratios and percentages to 4
decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):
$3,614.
$4,688.
$23,438.
$33,434.
L
$ 10,000
1,200
$ 60,000
$46,875.
M
$ 25,000
2,500
$ 50,000
N
$ 2,000
4,300
$ 7,000
Total
$ 37,000
8,000
$ 117,000
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