Allocating joint cost Keiffer Production manufactures three joint products in a single process. The following...
60.1K
Verified Solution
Link Copied!
Question
Accounting
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 4,500 $14.00 $4.00 $24.00 JP-4587 18,000 25.00 35.00 JP-4591 13,500 18.00 2.00 22.00 Allocate the joint cost of $558,000 to the production based on the following: 5.00 0 x 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 $ JP-4587 JP-4591 Total $ OX 0X 0 x 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. JP-4539 $ JP-4587 0 x JP-4591 $ OX 0 X Total OX 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. JP-4539 $ JP-4587 JP-4591 Total Ox 0 x 0X $ OX
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!
