Tanner Corporation produced 3,600 units, consisting of three separate products, in a joint process for the year. The market for these products was so unstable that it was not practical to estimate the selling price of the products. A cost of $488,000 was incurred in the joint process. Product X's production was 80% of product Y's while product Z's production was 120% of product Y's. What is the amount of the joint cost allocable to product X assuming Tanner uses the physical quantities method of allocation? Note: Do not round intermediate calculations. O $130,133 $133,523 $158,002 Saved $160.325
Tanner Corporation produced 3,600 units, consisting of three separate products, in a joint process for the year. The market for these products was so unstable that it was not practical to estimate the selling price of the products. A cost of $488,000 was incurred in the joint process. Product X's production was 80% of product Y's while product Z's production was 120% of product Y's. What is the amount of the joint cost allocable to product X assuming Tanner uses the physical quantities method of allocation? Note: Do not round intermediate calculations. O $130,133 $133,523 $158,002 Saved $160.325
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Tanner Corporation produced 3,600 units, consisting of three separate products, in a joint process for the year. The market for these products was so unstable that it was not practical to estimate the selling price of the products. A cost of $488,000 was incurred in the joint process. Product X's production was 80% of product Y's while product Z's production was 120% of product Y's. What is the amount of the joint cost allocable to product X assuming Tanner uses the physical quantities method of allocation? Note: Do not round intermediate calculations. O $130,133 $133,523 $158,002 Saved $160.325
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