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Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $179,600 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Sales Value at Split-Off Point Allocated Joint Costs Cost to Process Sales Value of Further Processed Product Spock $210,800 $40,100 $110,900 $299,600 Uhura 299,100 60,500 85,400 400,400 Sulu 454,300 79.000 250,800 799,900 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number es 45 or parentheses eg (45)) Spock Incremental profit (loss) $ Uhura Indicate whether each of the three joint products should be sold as is, or processed further. Spock Uhura Sulu Sulu

Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $179,600 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Sales Value at Split-Off Point Allocated Joint Costs Cost to Process Sales Value of Further Processed Product Spock $210,800 $40,100 $110,900 $299,600 Uhura 299,100 60,500 85,400 400,400 Sulu 454,300 79.000 250,800 799,900 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number es 45 or parentheses eg (45)) Spock Incremental profit (loss) $ Uhura Indicate whether each of the three joint products should be sold as is, or processed further. Spock Uhura Sulu Sulu

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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Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $179,600 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Sales Value at Split-Off Point Allocated Joint Costs Cost to Process Sales Value of Further Processed Product Spock $210,800 $40,100 $110,900 $299,600 Uhura 299,100 60,500 85,400 400,400 Sulu 454,300 79.000 250,800 799,900 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number es 45 or parentheses eg (45)) Spock Incremental profit (loss) $ Uhura Indicate whether each of the three joint products should be sold as is, or processed further. Spock Uhura Sulu Sulu
Transcribed Image Text:Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $179,600 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Sales Value at Split-Off Point Allocated Joint Costs Cost to Process Sales Value of Further Processed Product Spock $210,800 $40,100 $110,900 $299,600 Uhura 299,100 60,500 85,400 400,400 Sulu 454,300 79.000 250,800 799,900 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number es 45 or parentheses eg (45)) Spock Incremental profit (loss) $ Uhura Indicate whether each of the three joint products should be sold as is, or processed further. Spock Uhura Sulu Sulu
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