Pharoah 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 $181,000 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. Spock Uhura Sulu Sales Value at Split-Off Point $209,200 300,900 455,600 Incremental profit (loss) Allocated Joint Costs $ $39,600 60,700 80,700 Cost to Process Further Spock $109,700 85,000 250,700 Sales Value of Processed Product Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) $ $299,000 401,000 799,400 Uhura $ Sulu

Pharoah 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 $181,000 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. Spock Uhura Sulu Sales Value at Split-Off Point $209,200 300,900 455,600 Incremental profit (loss) Allocated Joint Costs $ $39,600 60,700 80,700 Cost to Process Further Spock $109,700 85,000 250,700 Sales Value of Processed Product Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) $ $299,000 401,000 799,400 Uhura $ Sulu

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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