A3 Company produces product cheese and butter jointly. During October production data as follows:Cheese ButterGallons at the splitt off point100,000 150,000October production of final products in gallons 18,000 52,000Additional processing cost600000$ 300000$Final sales value per gallon3.20$4.80$Milk used during production has a cost of 500,000$ and conversion cost until splitt off point is 860,000$Determine joint product cost for butter and cheese by using net realizable value method.

Under the NRV method, the estimated profits, any further processing costs and selling and…

Company produces product cheese and butter jointly. During October production data as follows: Cheese Butter Gallons at the splitt off point October production of final products in gallons Additional processing cost Final sales value per gallon 100,000 150,000 18,000 52,000 600000$ 300000$ 3.20$ 4.80$ Milk used during production has a cost of 500,000$ and conversion cost until splitt off point is 860,000$ Determine joint product cost for butter and cheese by using net realizable value method.

Company produces product cheese and butter jointly. During October production data as follows: Cheese Butter Gallons at the splitt off point October production of final products in gallons Additional processing cost Final sales value per gallon 100,000 150,000 18,000 52,000 600000$ 300000$ 3.20$ 4.80$ Milk used during production has a cost of 500,000$ and conversion cost until splitt off point is 860,000$ Determine joint product cost for butter and cheese by using net realizable value method.

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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