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 $130,000 was as follows: L M N Total Separable Processing cost $ 15,500 $ 36,000 $ 18,500 $ 70,000 Units Produced 3,400 8,000 6,500 17,900 Sales Value (after additional processing) $ 82,000 $ 77,500 $ 40,000 $ 199, 500 the amount of joint costs allocated to product N 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): Multiple Choice $20, 509. $21,583. $41, 660. $53, 316. $66,757.
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 $130,000 was as follows: L M N Total Separable Processing cost $ 15,500 $ 36,000 $ 18,500 $ 70,000 Units Produced 3,400 8,000 6,500 17,900 Sales Value (after additional processing) $ 82,000 $ 77,500 $ 40,000 $ 199, 500 the amount of joint costs allocated to product N 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): Multiple Choice $20, 509. $21,583. $41, 660. $53, 316. $66,757.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
6
Transcribed Image Text: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 $130,000 was as follows: L M N Total Separable Processing cost $
15,500 $ 36,000 $ 18,500 $ 70,000 Units Produced 3,400 8,000 6,500 17,900 Sales Value (after additional
processing) $ 82, 000 $ 77,500 $ 40,000 $ 199, 500 the amount of joint costs allocated to product N 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): Multiple Choice $20, 509. $21,583.
$41, 660. $53,316. $66,757.
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
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
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education