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: 20,500 gallons (after shrinkage) Production: Butter Cream Condensed Milk Butter Cream Condensed Milk Butter Cream Condensed Milk Separable costs in Butter Cream total: Sales: Sales Price: 9,500 gallons 11.000 gallons 9,000 gallons 10,500 gallons $5.50 per gallon $9.50 per gallon OA $19,135 OB. $32.870 OC. $15,000 OD $35,400 $15,000 Condensed Milk $35,400 The cost of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 20,500 gations 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)

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: 20,500 gallons (after shrinkage) Production: Butter Cream Condensed Milk Butter Cream Condensed Milk Butter Cream Condensed Milk Separable costs in Butter Cream total: Sales: Sales Price: 9,500 gallons 11.000 gallons 9,000 gallons 10,500 gallons $5.50 per gallon $9.50 per gallon OA $19,135 OB. $32.870 OC. $15,000 OD $35,400 $15,000 Condensed Milk $35,400 The cost of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 20,500 gations 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)

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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