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Required: Assuming that total joint costs of $443,520 were allocated using the sales value at split-off (net realizable value method), what joint costs were allocated to each product? (Do not round intermediate calculations.)

Required: Assuming that total joint costs of $443,520 were allocated using the sales value at split-off (net realizable value method), what joint costs were allocated to each product? (Do not round intermediate calculations.)

FINANCIAL ACCOUNTING
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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Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows: Units Product Produced 61,600 44,000 35,200 35,200 176,000 Sales Value at Split-0ff $ 368, 000 316,000 212,000 160,000 $1,056,000 If Processed Further Additional Costs $ 39,600 31,600 21,200 13, 200 $105,600 Sales Values $ 402,000 368, 000 264, 000 176, 000 $1,210, 000 W-10 W-20 W-30 W-40 Required: Assuming that total joint costs of $443,520 were allocated using the sales value at split-off (net realizable value method), what joint costs were allocated to each product? (Do not round intermediate calculations.) Joint Costs Allocated Product NRV at Split-Off W-10 W-20 W-30 W-40
Transcribed Image Text:Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows: Units Product Produced 61,600 44,000 35,200 35,200 176,000 Sales Value at Split-0ff $ 368, 000 316,000 212,000 160,000 $1,056,000 If Processed Further Additional Costs $ 39,600 31,600 21,200 13, 200 $105,600 Sales Values $ 402,000 368, 000 264, 000 176, 000 $1,210, 000 W-10 W-20 W-30 W-40 Required: Assuming that total joint costs of $443,520 were allocated using the sales value at split-off (net realizable value method), what joint costs were allocated to each product? (Do not round intermediate calculations.) Joint Costs Allocated Product NRV at Split-Off W-10 W-20 W-30 W-40
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