Oriole produces four kinds of ice cream from a single process. The total joint costs of $77,900 resulted in 3,000 gallons of vanilla, 2,700 gallons of strawberry, 2,100 gallons of chocolate, and 1,000 gallons of Neapolitan ice cream. Oriole sells the vanilla ice cream for $3.00/gallon and sells each of the other three flavors for $3.50/gallon. How much of the joint cost will be allocated to each product if the sales value at split-off method is used? (Round proportion to 4 decimal places, e.g. 0.2513 and final answers to O decimal places, e.g. 5,125.) Allocated joint costs $ Vanilla $ Strawberry $ Chocolate Neapolitan
Oriole produces four kinds of ice cream from a single process. The total joint costs of $77,900 resulted in 3,000 gallons of vanilla, 2,700 gallons of strawberry, 2,100 gallons of chocolate, and 1,000 gallons of Neapolitan ice cream. Oriole sells the vanilla ice cream for $3.00/gallon and sells each of the other three flavors for $3.50/gallon. How much of the joint cost will be allocated to each product if the sales value at split-off method is used? (Round proportion to 4 decimal places, e.g. 0.2513 and final answers to O decimal places, e.g. 5,125.) Allocated joint costs $ Vanilla $ Strawberry $ Chocolate Neapolitan
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Oriole produces four kinds of ice cream from a single process. The total joint costs of $77,900 resulted in 3,000 gallons of vanilla,
2,700 gallons of strawberry, 2,100 gallons of chocolate, and 1,000 gallons of Neapolitan ice cream. Oriole sells the vanilla ice cream for
$3.00/gallon and sells each of the other three flavors for $3.50/gallon. How much of the joint cost will be allocated to each product if
the sales value at split-off method is used? (Round proportion to 4 decimal places, e.g. 0.2513 and final answers to O decimal places, e.g.
5,125.)
Allocated
joint
costs
$
Vanilla
$
Strawberry
$
Chocolate
Neapolitan
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