Q12. Clear Springs Corporation manufactures products J, K and L from a joint process.Additional information is as follows.Units producedSales value at split-offSales value if processed furtherAdditional costs if processedfurther12,000KL6,000 2,000Total20,000$110,000 $65,000 $25,000 $200,000$140,000 $75,000 $35,000 $250,000Total joint costs of $120,000 were incurred on the three products.$24,000 $15,000 $6,000 $45,000 Based on the information presented, which of the products should be processed further?Net RealizableValue at split-offNet Realizablevalue if processedProcess Furtheryes (y) or no (n)JKL

Joint costs are the cost of common resources used to produce two or more products or services…

Clear Springs Corporation manufactures products J, K and L from a joint process. Additional information is as follows. Units produced Sales value at split-off Sales value if processed further Additional costs if processed further J K L Total 12,000 6,000 2,000 20,000 $110,000 $65,000 $25,000 $200,000 $140,000 $75,000 $35,000 $250,000 $24,000 $15,000 $6,000 $45,000 Total joint costs of $120,000 were incurred on the three products.

Clear Springs Corporation manufactures products J, K and L from a joint process. Additional information is as follows. Units produced Sales value at split-off Sales value if processed further Additional costs if processed further J K L Total 12,000 6,000 2,000 20,000 $110,000 $65,000 $25,000 $200,000 $140,000 $75,000 $35,000 $250,000 $24,000 $15,000 $6,000 $45,000 Total joint costs of $120,000 were incurred on the three products.

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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