Exercise 11-44 (Algo) Estimated Net Realizable Value Method -- Solve for Unknowns (LO 11-3) Gunston Processing produces two products, ALT-1 and ALT-2, from a batch using a single raw material, ALT-O. Both products require further processing before they be can be sold. A batch of ALT-1 can be sold for $154,750 after processing costs of $49,000. A batch of ALT-2 can be sold for $241,900 after further processing. The cost of ALT-0 is $200,000 for a batch. Using the estimated net realizable value method, a joint cost of $120,000 was allocated to ALT-2 for a batch. Required: Compute the separable processing cost for a batch of ALT-2 Note: Do not round intermediate calculations. Processing cost

Exercise 11-44 (Algo) Estimated Net Realizable Value Method -- Solve for Unknowns (LO 11-3) Gunston Processing produces two products, ALT-1 and ALT-2, from a batch using a single raw material, ALT-O. Both products require further processing before they be can be sold. A batch of ALT-1 can be sold for $154,750 after processing costs of $49,000. A batch of ALT-2 can be sold for $241,900 after further processing. The cost of ALT-0 is $200,000 for a batch. Using the estimated net realizable value method, a joint cost of $120,000 was allocated to ALT-2 for a batch. Required: Compute the separable processing cost for a batch of ALT-2 Note: Do not round intermediate calculations. Processing cost

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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