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ethod for allocating joint costs. Product information for April was as follow Product S T duced 2,500 5,000 7,500 Id 2,000 6,000 7,000 Fices per unit:

ethod for allocating joint costs. Product information for April was as follow Product S T duced 2,500 5,000 7,500 Id 2,000 6,000 7,000 Fices per unit:

FINANCIAL ACCOUNTING
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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2. Beagle Manufacturing, Inc. uses a joint production process that produces three products at the split- off point. Joint production costs during April were $720,000. The company uses the net realizable value method for allocating joint costs. Product information for April was as follows: Product R T Units produced 2,500 5,000 7,500 Units sold 2,000 6,000 7,000 Sales prices per unit: (After further processing) $150 $115 $30 Costs to process after split-off $150,000 $150,000 | $100,000 Required: Prepare a schedule to show the computation for the unit costs for products R, S. T assuming the company uses net realizable value to allocate joint costs. **HINT - sales value amount should include the sales value of all product produced, not just the sales of the product.**
Transcribed Image Text:2. Beagle Manufacturing, Inc. uses a joint production process that produces three products at the split- off point. Joint production costs during April were $720,000. The company uses the net realizable value method for allocating joint costs. Product information for April was as follows: Product R T Units produced 2,500 5,000 7,500 Units sold 2,000 6,000 7,000 Sales prices per unit: (After further processing) $150 $115 $30 Costs to process after split-off $150,000 $150,000 | $100,000 Required: Prepare a schedule to show the computation for the unit costs for products R, S. T assuming the company uses net realizable value to allocate joint costs. **HINT - sales value amount should include the sales value of all product produced, not just the sales of the product.**
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