None 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 $155,000 was as follows:Separable Processing costUnits ProducedSales Value (after additional processing)LMN$ 18,0004,400$ 92,000$ 41,00010,500$ 90,000$ 26,0007,500$ 55,000Total$ 85,00022,400$ 237,000The 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 tothe nearest whole dollar):Multiple Choice$28,498.О$29,572.$49,967.$62,020.$75,461.

The joint costs are the costs that are incurred for the production of two or more products. The net…

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 $155,000 was as follows: Separable Processing cost Units Produced Sales Value (after additional processing) L M N $ 18,000 4,400 $ 41,000 10,500 $ 92,000 $ 90,000 $ 26,000 7,500 $ 55,000 Total $ 85,000 22,400 $ 237,000 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 he nearest whole dollar): Multiple Choice

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 $155,000 was as follows: Separable Processing cost Units Produced Sales Value (after additional processing) L M N $ 18,000 4,400 $ 41,000 10,500 $ 92,000 $ 90,000 $ 26,000 7,500 $ 55,000 Total $ 85,000 22,400 $ 237,000 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 he nearest whole dollar): Multiple Choice

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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