Please do not give solution in image format thanku Webster Company produces 40,000 unitsof product A, 30,000 units of product B,and 11,500 units of product C from thesame manufacturing process at a cost of$355,000. A and B are joint products, and Cis regarded as a by-product. The unitselling prices of the products are $40 for A,$30 for B, and $2 for C. None of theproducts requires separable processing. Ofthe units produced, Webster Company sells33,000 units of A, 29,000 units of B, and11,500 units of C. The firm uses the netrealizable value method to allocate jointcosts and by-product costs. Assume nobeginning inventory.Required: 1. What is the value of the endinginventory of product A?2. What is the value of the ending inventoryof product B?

Under the net realizable value method, joint costs are allocated based on the total sales value less…

Answered: Required: 1. What is the value of the…

Required: 1. What is the value of the ending inventory of product A? 2. What is the value of the ending inventory of product B?

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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Question

Please do not give solution in image format thanku

Webster Company produces 40,000 units
of product A, 30,000 units of product B,
and 11,500 units of product C from the
same manufacturing process at a cost of
$355,000. A and B are joint products, and C
is regarded as a by-product. The unit
selling prices of the products are $40 for A,
$30 for B, and $2 for C. None of the
products requires separable processing. Of
the units produced, Webster Company sells
33,000 units of A, 29,000 units of B, and
11,500 units of C. The firm uses the net
realizable value method to allocate joint
costs and by-product costs. Assume no
beginning inventory.
Required: 1. What is the value of the ending
inventory of product A?
2. What is the value of the ending inventory
of product B?

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