Required: 1. Allocate the joint costs using the physical units method. If required, round your percentage allocation to four decimal places and round allocated costs to the nearest dollar. Note: The total of the allocated cost does not equal to the one provided in the question data due to rounding error. Allocated Joint Cost Barlon $fill in the blank 1 Selene fill in the blank 2 Plicene fill in the blank 3 Corsol fill in the blank 4 Total $fill in the blank 5 2. Suppose that the products are weighted as shown below: Barlon 1.1 Selene 2.1 Plicene 1.6 Corsol 2.7 Allocate the joint costs using the weighted average method. If required, round your percentage allocation to four decimal places and round allocated costs to the nearest dollar. Allocated Joint Cost Barlon $fill in the blank 6 Selene fill in the blank 7 Plicene fill in the blank 8 Corsol fill in the blank 9 Total $fill in the blank 10
Physical Units Method
Alomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows:
| Direct materials | $74,769 |
| Direct labor | 34,247 |
| 24,403 |
At the split-off point, a batch yields 2,030 barlon, 2,867 selene, 3,105 plicene, and 3,942 corsol. All products are sold at the split-off point: barlon sells for $15 per unit, selene sells for $22 per unit, plicene sells for $28 per unit, and corsol sells for $34 per unit.
Required:
1. Allocate the joint costs using the physical units method. If required, round your percentage allocation to four decimal places and round allocated costs to the nearest dollar. Note: The total of the allocated cost does not equal to the one provided in the question data due to rounding error.
| Allocated Joint Cost | ||
| Barlon | $fill in the blank 1 | |
| Selene | fill in the blank 2 | |
| Plicene | fill in the blank 3 | |
| Corsol | fill in the blank 4 | |
| Total | $fill in the blank 5 |
2. Suppose that the products are weighted as shown below:
| Barlon | 1.1 |
| Selene | 2.1 |
| Plicene | 1.6 |
| Corsol | 2.7 |
Allocate the joint costs using the weighted average method. If required, round your percentage allocation to four decimal places and round allocated costs to the nearest dollar.
| Allocated Joint Cost | ||
| Barlon | $fill in the blank 6 | |
| Selene | fill in the blank 7 | |
| Plicene | fill in the blank 8 | |
| Corsol | fill in the blank 9 | |
| Total | $fill in the blank 10 |
Costs are divided into fixed and variable components. In many cases, the same raw material or fixed cost is used to produce more than one product. As a result, it is difficult to separate costs according to products. In this case, the cost is referred to as a joint cost. Such joint cost is allocated to the products based on the standard ratio or weighted average units.
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