Al three end procucts are seperated einultanacusly at a singla epilot point. fClick the icon...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Al three end procucts are seperated einultanacusly at a singla epilot point. fClick the icon for adcilional information.j (fllikk the icxan to vimw the salrs information.) Fused Ihx More info Products X and Y are ready for sals immediately upon saltoff without further processing or anty oftur ixdtailizral exsis. Product Z, howeroer, is processed further betore being scle. There is no avellable maiket price for Z at the spliton point. The selling prices quoted here are expected to remain the sams in the corring yeer. More info Requirements - X120 tons sold for $1.500 per ton - Y - 340 loxss sala far 31,000 per tan - Z - 475 bares sold for $700 per tan The totel joint menufacturing costs for the year were $412,000. Takils epent an additional 8200,000 to finish product Z Thare were no begirning inventories of x, Y, or Z. At the end of the year, the following irwentones of completed units ware on hand: X,160 lone; Y, 60 kare Z,25 tares. Treare was rw beapinrines ar ending wark hand: X, 180 in process. 1. Campate the enet of irrontorirs of XYY, ind Z far talianses shent purposens and the cost of geod: sold for income statement purpases as of Decamber 31, 2017, using the follawing joint-coet-allscation metheds: a. NRV (Ned realiable value) meltod b. Carslarl grass-rarpin wes cenlage NRV rnelued 2. Carmpers the grass-margin peacentages fax X. Y, arod Z using the two rnevends givan in rechuliement 1
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!