Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at ajoint cost of $120,000.After Split-OffProduct Units Produced and Sold Total Separable Costs Total Final Sales ValueM$ 10,000NTProductM10,0004,0005,000NTRequired:How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not roundintermediate calculations. Enter your final answers in whole dollars.)10,0005,000Allocated JointCost$ 160,000140,00025,000

Joint Cost :— It is the cost that are incurred in the manufacturing of two or more joint products.…

Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $120,000. After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M $ 10,000 10,000 5,000 N T Product M 10,000 4,000 5,000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value méthod? (Do not round intermediate calculations. Enter your final answers in whole dollars.) N T $ 160,000 140,000 25,000 Allocated Joint Cost

Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $120,000. After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M $ 10,000 10,000 5,000 N T Product M 10,000 4,000 5,000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value méthod? (Do not round intermediate calculations. Enter your final answers in whole dollars.) N T $ 160,000 140,000 25,000 Allocated Joint Cost

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Chapter1: Financial Statements And Business Decisions

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Question

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Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a
joint cost of $120,000.
After Split-Off
Product Units Produced and Sold Total Separable Costs Total Final Sales Value
M
$ 10,000
N
T
Product
M
10,000
4,000
5,000
N
T
Required:
How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round
intermediate calculations. Enter your final answers in whole dollars.)
10,000
5,000
Allocated Joint
Cost
$ 160,000
140,000
25,000

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