The Kenton Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June Direct Materials processed: 23,500 gallons (after shrinkage) Production: Sales Sales Price: Separable costs in total Butter Cream Condensed Milk Butter Cream Condensed Milk Butter Cream Condensed Milk Butter Cream OA $35.500 B. $14,538 OC. $37,468 OD. $14,000 11,000 gallons 12,500 gallons 10,500 gallons 12,000 gallons $4.00 per gallon $9.00 per gallon $14,000 Condensed Milk $35,500 The cost of purchasing the of unprocessed milk and processing it up to the split- off point to yield a total of 23,500 gallons of saleable product was $52,000 The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Condensed Mik? (Round intermediary percentages to the nearest hundredth) +C

The Kenton Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June Direct Materials processed: 23,500 gallons (after shrinkage) Production: Sales Sales Price: Separable costs in total Butter Cream Condensed Milk Butter Cream Condensed Milk Butter Cream Condensed Milk Butter Cream OA $35.500 B. $14,538 OC. $37,468 OD. $14,000 11,000 gallons 12,500 gallons 10,500 gallons 12,000 gallons $4.00 per gallon $9.00 per gallon $14,000 Condensed Milk $35,500 The cost of purchasing the of unprocessed milk and processing it up to the split- off point to yield a total of 23,500 gallons of saleable product was $52,000 The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Condensed Mik? (Round intermediary percentages to the nearest hundredth) +C

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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