May were $568,000. Additional information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced 272,000 176,000 208,000 144,000 800,000 Product Chem-1 Chem-2 Chem-3 If Processed Further Joint Costs Allocated Sales Value at Additional Split-Off Costs $ 206,720 264,000 162,240 244,800 $ 877,760 $ 29,920 28, 160 24,960 25,920 $ 108,960 Sales Values $ 244,800 Required: Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. 288,640 195,000 270,000 $ 998,440

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in
May were $568,000. Additional information follows:
Product
Chem-1
Chem-2
Chem-3
Chem-4
Units Produced
272,000
176,000
208,000
144,000
800,000
Product
Chem-1
Chem-2
Chem-3
Chem-4
Joint Costs
Allocated
If Processed Further
Sales Value at Additional
Split-Off
Costs
$ 206,720
264,000
162, 240
244,800
$ 877,760
$ 29,920
28,160
24,960
25,920
$ 108,960
Sales Values
$ 244,800
Required:
Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product in
May?
Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts.
288,640
195,000
270,000
$ 998,440
Transcribed Image Text:Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $568,000. Additional information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced 272,000 176,000 208,000 144,000 800,000 Product Chem-1 Chem-2 Chem-3 Chem-4 Joint Costs Allocated If Processed Further Sales Value at Additional Split-Off Costs $ 206,720 264,000 162, 240 244,800 $ 877,760 $ 29,920 28,160 24,960 25,920 $ 108,960 Sales Values $ 244,800 Required: Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. 288,640 195,000 270,000 $ 998,440
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