Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $90,000 was as follows: Separable Processing cost Units Produced Sales Value (after addt'1 processing) L M N Total $11,500 $28,000 $6,500 $ 46,000 1,800 4,000 4,900 10,700 $66,000 $57,500 $16,000 $139,500 The amount of joint costs allocated to product L using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):
Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $90,000 was as follows: Separable Processing cost Units Produced Sales Value (after addt'1 processing) L M N Total $11,500 $28,000 $6,500 $ 46,000 1,800 4,000 4,900 10,700 $66,000 $57,500 $16,000 $139,500 The amount of joint costs allocated to product L using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $90,000 was as
follows:
Separable Processing cost
Units Produced
Sales Value (after addt'l processing)
L
M
N
Total
$11,500 $28,000 $6,500 $ 46,000
1,800
4,000
4,900
10,700
$66,000 $57,500 $16,000 $139,500
The amount of joint costs allocated to product L using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for
example 33.3333%, and round all dollar amounts to the nearest whole dollar):
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