Required informationProblem 17-30 Joint Cost Allocation; Missing Data (LO 17-4)[The following information applies to the questions displayed below.]Berger Company manufactures products Delta, Kappa, and Omega from a joint process. Production, sales, and cost datafor July follow.Units producedJoint cost allocation.Sales value at split-offAdditional costs if processed furtherSales value if processed furtherProblem 17-30 Part 2Sales value at split-off for DeltaDeltaKappaOmegaDelta5,800$ 68,400?$ 8,800$160,000Kappa3,080Allocation ofJoint CostsOmega1,7202. Assuming that joint costs are allocated using the relative-sales-value method, what was the sales value at split-off for product Delta?(Do not round intermediate calculations. Round your answer to the nearest dollar amount.)??$28,500$ 6,800 $ 4,800$70,000 $65,000Total10,600$ 96,000$190,000$ 20,400$295,0003. Use the net-realizable-value method to allocate the joint production costs to the three products. (Round the calculation of "RelativeProportion" to the nearest whole percent. Round your final answers to the nearest dollar amount.)

Joint costs are those costs which are incurred for manufacturing of two or more than two products simultaneously. These costs needs to be allocated by use of some reasonable method like net realisable value method, sales value at splitoff method etc.Here,Joint costs allocated to Delta = $68400Total joint costs = $96000Portion of joint costs to be allocated to Delta = $68400/$96000 = 71.25%Sales value at split off for Delta = Total sales value at split off * 71.25%= $190,000 * 71.25% = $135375Joint costs allocation is shown as: Sales value if processed further (A)Additional costs (B)Net Realisable value (A-B)Relative ProportionJoint costs allocatedDelta160000880015120055%($151200/$274600)52859($96000*55%)Kappa7000068006320023%($63200/$274600)22095($96000*23%)Omega6500048006020022%($60200/$274600)21046($96000*22%)27460096000Sales value at split off for Delta = $135375Using net realisable value method,Joint costs to be allocated to Delta = $52859Joint costs to be allocated to Kappa = $22095Joint costs to be allocated to Omega = $21046

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Required information Problem 17-30 Joint Cost Allocation; Missing Data (LO 17-4) [The following information applies to the questions displayed below.] Berger Company manufactures products Delta, Kappa, and Omega from a joint process. Production, sales, and cost data for July follow. Units produced Joint cost allocation. Sales value at split-off Additional costs if processed further Sales value if processed further Problem 17-30 Part 2 Sales value at split-off for Delta Delta Kappa Omega Omega Delta 5,800 $ 68,400 1,720 ? $28,500 $ 8,800 $ 6,800 $ 4,800 $160,000 $70,000 $65,000 ? 2. Assuming that joint costs are allocated using the relative-sales-value method, what was the sales value at split-off for product Del (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Kappa 3,080 ? ? Allocation of Joint Costs Total 10,600 $ 96,000 $190,000 $ 20,400 $295,000 3. Use the net-realizable-value method to allocate the joint production costs to the three products. (Round the calculation of "Relativ Proportion" to the nearest whole percent. Round your final answers to the nearest dollar amount.)

Required information Problem 17-30 Joint Cost Allocation; Missing Data (LO 17-4) [The following information applies to the questions displayed below.] Berger Company manufactures products Delta, Kappa, and Omega from a joint process. Production, sales, and cost data for July follow. Units produced Joint cost allocation. Sales value at split-off Additional costs if processed further Sales value if processed further Problem 17-30 Part 2 Sales value at split-off for Delta Delta Kappa Omega Omega Delta 5,800 $ 68,400 1,720 ? $28,500 $ 8,800 $ 6,800 $ 4,800 $160,000 $70,000 $65,000 ? 2. Assuming that joint costs are allocated using the relative-sales-value method, what was the sales value at split-off for product Del (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Kappa 3,080 ? ? Allocation of Joint Costs Total 10,600 $ 96,000 $190,000 $ 20,400 $295,000 3. Use the net-realizable-value method to allocate the joint production costs to the three products. (Round the calculation of "Relativ Proportion" to the nearest whole percent. Round your final answers to the nearest dollar amount.)

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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