Allocating joint cost Keiffer Production manufactures three joint products in a single process. The following...
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Allocating joint cost Keiffer Production manufactures three joint products in a single process. The following information is available for August: Sales Value at Split-Off Cost after Final Selling Product Gallons per Gallon Split-Off Price JP-4539 8,100 $14.00 $4.00 $24.00 JP-4587 32,400 25.00 35.00 JP-4591 24,300 18.00 2.00 22.00 Allocate the joint cost of $1,004,400 to the production based on the following: 5.00 a. number of gallons. Note: Round proportions to the nearest tenth of a percentage (i.e. round 13.45% to 13.5%) and dollar amounts to the nearest whole dollar. JP-4539 $ 125,550 JP-4587 502,200 JP-4591 376,650 Total 1,004,400 $ b. sales value at split-off. Note: Round proportions to the nearest whole percentage (i.e. round 13.45% to 13%) and dollar amounts to the nearest whole dollar. OX OX JP-4539 $ JP-4587 JP-4591 Total $ OX 1,004,400 c. approximated net realizable values at split-off. Note: Round proportions to the nearest whole percentage (i.e. round 13.45% to 13%) and dollar amounts to the nearest whole dollar. OX JP-4539 $ JP-4587 JP-4591 Total $ Ox OX 1,004,400
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