Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional informationfollows:Product Produced64, 40046,00036, 80036, 800184, 000W-10W-20W-30W-40Units Sales Value atSplit-Off$ 384,000ProductW-10W-20W-30W-40330, 000222,000168,000$1,104, 000If Processed FurtherAdditionalCosts$ 41, 40033,00022, 20013,800$110, 400Required:Assuming that total joint costs of $518,880 were allocated using the sales value at split-off (net realizable value method), what jointcosts were allocated to each product? (Do not round intermediate calculations.)NRV at Split- Joint CostsAllocatedOffSales Values$ 420,000384, 000276,000184, 000$1,264,000

Name: Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30
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Description: Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional informationfollows:Product Produced64, 40046,00036, 80036, 800184, 000W-10W-20W-30W-40Units Sales Value atSplit-Off$ 384,000ProductW-10

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Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows: Units Sales Value at Product Produced W-10 W-20 W-30 W-40 64, 400 46,000 36, 800 36, 800 184, 000 Product W-10 W-20 W-30 W-40 Split-Off $384,000 330, 000 222,000 168,000 $1,104,000 If Processed Further Additional Costs NRV at Split- Joint Costs Off Allocated $ 41, 400 33, 000 22, 200 13, 800 $110, 400 Required: Assuming that total joint costs of $518,880 were allocated using the sales value at split-off (net realizable value method), what joint costs were allocated to each product? (Do not round intermediate calculations.) Sales Values $ 420,000 384, 000 276,000 184, 000 $1,264,000

Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows: Units Sales Value at Product Produced W-10 W-20 W-30 W-40 64, 400 46,000 36, 800 36, 800 184, 000 Product W-10 W-20 W-30 W-40 Split-Off $384,000 330, 000 222,000 168,000 $1,104,000 If Processed Further Additional Costs NRV at Split- Joint Costs Off Allocated $ 41, 400 33, 000 22, 200 13, 800 $110, 400 Required: Assuming that total joint costs of $518,880 were allocated using the sales value at split-off (net realizable value method), what joint costs were allocated to each product? (Do not round intermediate calculations.) Sales Values $ 420,000 384, 000 276,000 184, 000 $1,264,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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am. 113.
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