Longwood Corporation processes a liquid into three outputs: K-2, K-4, and K-5. The sales value of each of these products for a single batch follows: K-2 K-4 K-5 The joint costs total $860,000. There are go separable production costs. If K-5 is accounted for as a by-product, its sales are credited to the joint manufacturing costs using method 1 described in the text. $ 580,600 429,400 192,500 Required: a-1. What are the allocated joint costs for the three outputs, if K-5 is accounted for as a joint product? a-2. What are the allocated joint costs for the three outputs, if K-5 is accounted for as a by-product? Complete this question by entering your answers in the tabs below. Reg A1 K-2 K-4 K-5 Req A2 What are the allocated joint costs for the three outputs, if K-5 is accounted for as a joint product? Note: Do not round your intermediate calculations. Round your final answer to the nearest whole dollars. Accounted for as a Joint Product RA Req A2 >
Longwood Corporation processes a liquid into three outputs: K-2, K-4, and K-5. The sales value of each of these products for a single batch follows: K-2 K-4 K-5 The joint costs total $860,000. There are go separable production costs. If K-5 is accounted for as a by-product, its sales are credited to the joint manufacturing costs using method 1 described in the text. $ 580,600 429,400 192,500 Required: a-1. What are the allocated joint costs for the three outputs, if K-5 is accounted for as a joint product? a-2. What are the allocated joint costs for the three outputs, if K-5 is accounted for as a by-product? Complete this question by entering your answers in the tabs below. Reg A1 K-2 K-4 K-5 Req A2 What are the allocated joint costs for the three outputs, if K-5 is accounted for as a joint product? Note: Do not round your intermediate calculations. Round your final answer to the nearest whole dollars. Accounted for as a Joint Product RA Req A2 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Longwood Corporation processes a liquid into three outputs: K-2, K-4, and K-5. The sales value of each of these products for a single
batch follows:
K-2
K-4
K-5
The joint costs total $860,000. There are po separable production costs. If K-5 is accounted for as a by-product, its sales are credited
to the joint manufacturing costs using method 1 described in the text.
$ 580,600
429,400
192,500
Required:
a-1. What are the allocated joint costs for the three outputs, if K-5 is accounted for as a joint product?
a-2. What are the allocated joint costs for the three outputs, if K-5 is accounted for as a by-product?
Complete this question by entering your answers in the tabs below.
Reg A1
K-2
K-4
K-5
Req A2
What are the allocated joint costs for the three outputs, if K-5 is accounted for as a joint product?
Note: Do not round your intermediate calculations. Round your final answer to the nearest whole dollars.
Accounted for as a Joint
Product
4Re A
Req A2 >
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