C7 Exercise 11-46 (Algo) Net Realizable Value Method with By-Products (LO 11-3, 5)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-offDF1DF2BPDF219,000BPDF128,00016,000?$ 568,500 $ 189,500 $ 103,000Joint CostTotalRequired: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.63,000$ 561,000$ 861,000

The Joint cost allocation is a method that will assign the total common cost of producing multiple…

Exercise 11-46 (Algo) Net Realizable Value Method with By-Products (LO 11-3, 5) 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 DF2 BP BP 16,000 ? $ 568,500 $ 189,500 $ 103,000 Joint Cost DF1 28,000 DF2 19,000 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 63,000 $ 561,000 $ 861,000

Exercise 11-46 (Algo) Net Realizable Value Method with By-Products (LO 11-3, 5) 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 DF2 BP BP 16,000 ? $ 568,500 $ 189,500 $ 103,000 Joint Cost DF1 28,000 DF2 19,000 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 63,000 $ 561,000 $ 861,000

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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