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 Split-Off $376,000 63,000 45,000 36,000 36,000 180,000 $1,080,000 323,000 217,000 164,000 If Processed Further Additional Costs Joint Coste $ 40,500 32,300 21,700 13,500 $108,000 Sales Values $ 411,000 376,000 270,000 180,000 $1,237,000 Required: Assuming that total joint costs of $464,400 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.)
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 Split-Off $376,000 63,000 45,000 36,000 36,000 180,000 $1,080,000 323,000 217,000 164,000 If Processed Further Additional Costs Joint Coste $ 40,500 32,300 21,700 13,500 $108,000 Sales Values $ 411,000 376,000 270,000 180,000 $1,237,000 Required: Assuming that total joint costs of $464,400 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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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
W-10
W-20
W-30
W-40
Product Produced
Split-Off
63,000 $ 376,000
45,000
323,000
36,000
217,000
36,000
164,000
180,000 $1,080,000
Product NRV at Split-Off
W-10 $
376,000
W-20 $
323,000
W-30
$
217,000
W-40
$ 164,000
If Processed Further
Additional
Costs
Joint Costs
Allocated
$ 40,500
32,300
21,700
13,500
$108,000
Required:
Assuming that total joint costs of $464,400 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
$ 411,000
376,000
270,000
180,000
$1,237,000
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