Benson Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 386,300 pounds of raw materials, the company generates 73,200 pounds of B7, 166,700 pounds of K6, and 146,400 pounds of X9. A standard batch costs $2,317,800 to produce. The sales prices per pound are $5, $15, and $20 for B7, K6, and X9, respectively. Required a. Allocate the joint product cost among the three final products using weight as the allocation base. b. Allocate the joint product cost among the three final products using market value as the allocation base. Complete this question by entering your answers in the tabs below. Required A Required B Allocate the joint product cost among the three final products using weight as the allocation base. Weight of Base Product Allocation Rate $ B7 K6 X9 Total allocated cost X 73200 X X 166700 X X 146400 XX = Answer is not complete. 6 x 6 X = 6 X = = $ Allocated Cost 439,200 1,000,200 878,400 $ 2,317,800 < Prev 5 of 5 www www ‒‒‒ Next > 4

Benson Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 386,300 pounds of raw materials, the company generates 73,200 pounds of B7, 166,700 pounds of K6, and 146,400 pounds of X9. A standard batch costs $2,317,800 to produce. The sales prices per pound are $5, $15, and $20 for B7, K6, and X9, respectively. Required a. Allocate the joint product cost among the three final products using weight as the allocation base. b. Allocate the joint product cost among the three final products using market value as the allocation base. Complete this question by entering your answers in the tabs below. Required A Required B Allocate the joint product cost among the three final products using weight as the allocation base. Weight of Base Product Allocation Rate $ B7 K6 X9 Total allocated cost X 73200 X X 166700 X X 146400 XX = Answer is not complete. 6 x 6 X = 6 X = = $ Allocated Cost 439,200 1,000,200 878,400 $ 2,317,800 < Prev 5 of 5 www www ‒‒‒ Next > 4

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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