Please do not give solution in image format ? And Fast answering please and explain proper steps by Step. Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The companyaccounts for the revenues from its by-product sales as other income. Additional information follows:Units producedAllocated joint costsSales value at split-offDF127,000?$ 561,000Answer is complete but not entirely correct.Joint Cost$ 343,500 X$ 114,500$0DF1DF2BPDF218,000?$ 187,000BP15,000?$ 102,000TotalRequired:Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated toeach of the joint products DF1 and DF2 and to the by-product, BP?Note: Do not round intermediate calculations.60,000$ 560,000$ 850,000

When more than one product is produced from one process then all the products are known as a joint…

Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The company accounts for the revenues from its by-product sales as other income. Additional information follows: Units produced Allocated joint costs Sales value at split-off DF1 27,000 ? $ 561,000 X Answer is complete but not entirely correct. DF1 DF2 BP Joint Cost $343,500 X $ 114,500 x $ 0 DF2 18,000 ? $ 187,000 BP 15,000 ? $ 102,000 Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated to each of the joint products DF1 and DF2 and to the by-product, BP? Note: Do not round intermediate calculations. Total 60,000 $ 560,000 $ 850,000

Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The company accounts for the revenues from its by-product sales as other income. Additional information follows: Units produced Allocated joint costs Sales value at split-off DF1 27,000 ? $ 561,000 X Answer is complete but not entirely correct. DF1 DF2 BP Joint Cost $343,500 X $ 114,500 x $ 0 DF2 18,000 ? $ 187,000 BP 15,000 ? $ 102,000 Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated to each of the joint products DF1 and DF2 and to the by-product, BP? Note: Do not round intermediate calculations. Total 60,000 $ 560,000 $ 850,000

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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