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The cost of purchasing 400 kgs of direct materials and processing it up to the split-off point to yield a total of 22,700 chips of good products was $2.010,000. Beginning inventories totaled 120 chips for Standard and 80 chips for Premium. Ending ventory amounts reflected 120 chips of Standard and 80 chips of Premium. October costs per unit were the same as lovember. When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated andard chips? (Round intermediary percentages to the nearest hundredth) $1,435,714 $1.005.000 1.482.028

The cost of purchasing 400 kgs of direct materials and processing it up to the split-off point to yield a total of 22,700 chips of good products was $2.010,000. Beginning inventories totaled 120 chips for Standard and 80 chips for Premium. Ending ventory amounts reflected 120 chips of Standard and 80 chips of Premium. October costs per unit were the same as lovember. When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated andard chips? (Round intermediary percentages to the nearest hundredth) $1,435,714 $1.005.000 1.482.028

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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Netzone Company is in semiconductor industry and fabrication of silicon-wafer chips splits off two types of memory chips. Standard and Premium. The following information was collected for last quarter of the calendar year Direct materials processed Production Standard Premium Standard 15.500at $170 per chip Premium 6200at $250 per chip The cost of purchasing 400 kgs of direct materials and processing it up to the split-off point to yield a total of 22.700 chips of good products was $2,010,000. Beginning inventories totaled 120 chips for Standard and 80 chips for Premium. Ending inventory amounts reflected 120 chips of Standard and 80 chips of Premium. October costs per unit were the same as November. When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated Standard chips? (Round intermediary percentages to the nearest hundredth) Sales: 400kgs (Both standard and premium chips weigh 10 grams each) O $1.435,714 O $1.005.000 O $1.482,028 O $1,416,648 16,000chips 6700chips
Transcribed Image Text:Netzone Company is in semiconductor industry and fabrication of silicon-wafer chips splits off two types of memory chips. Standard and Premium. The following information was collected for last quarter of the calendar year Direct materials processed Production Standard Premium Standard 15.500at $170 per chip Premium 6200at $250 per chip The cost of purchasing 400 kgs of direct materials and processing it up to the split-off point to yield a total of 22.700 chips of good products was $2,010,000. Beginning inventories totaled 120 chips for Standard and 80 chips for Premium. Ending inventory amounts reflected 120 chips of Standard and 80 chips of Premium. October costs per unit were the same as November. When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated Standard chips? (Round intermediary percentages to the nearest hundredth) Sales: 400kgs (Both standard and premium chips weigh 10 grams each) O $1.435,714 O $1.005.000 O $1.482,028 O $1,416,648 16,000chips 6700chips
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