Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. deming & sons manufactures four grades of lubr

Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint...

Free

70.2K

Verified Solution

Question

Accounting

Deming & Sons manufactures four grades of lubricant, W-10,W-20, W-30, and W-40, from a joint process. Additional informationfollows:

IfProcessed Further
ProductUnitsProducedSales Value at Split-OffAdditional CostsSales Values
W-1061,600$368,000$39,600$402,000
W-2044,000316,00031,600368,000
W-3035,200212,00021,200264,000
W-4035,200160,00013,200176,000
176,000$1,056,000$105,600$1,210,000

Required:

Assuming that total joint costs of $443,520 were allocated usingthe physical quantities method, what joint costs were allocated toeach product? (Do not round intermediatecalculations.)

Answer & Explanation Solved by verified expert
4.0 Ratings (507 Votes)

Grades Joint costs allocation
W-10 $                           155,232 =443520*(61600/176000)
W-20 $                           110,880 =443520*(44000/176000)
W-30 $                              88,704 =443520*(35200/176000)
W-40 $                              88,704 =443520*(35200/176000)
Total $                           443,520

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!
Become a Member

Other questions asked by students

Q

Module - Management AccountingThe main role of Management Accounting is:PlanningControl andDecision making....Module - Management...

Accounting
Q

What environmental for seed germination factors are especially important Chapter 22 Question 7

Biology
Q

6 Two identical communicating containers have water filled into them A spherical ball of ice...

Physics
Q

Initial Knowledge Check Question 8 The shorter leg of a right triangle is 6 inches...

Geometry
Q

Given that 0 8 n 0 X 1 1 x to x Identify its interval...

Geometry
Q

Company A invests 10 000 into a savings account with a 4 interest rate compounded...

Basic Math
Q

(a) The annual inflation rate is 3.8% per year. If a movie ticket costs $12.00...

Basic Math
Q

h is the contrapositive of the statement below If you do your homework then you...

Basic Math
Q

MullerB Company's employees earn vacation time at the rate of 1 hour per 40-hour work...

Accounting
Q

Requirement 1. Calculate the amounts that have been left blank for each situation. For situations...

Accounting
Q

The Marine Division of Pacific Corp. has average invested assets of $110,000,000. Sales revenue of...

Accounting
Q

4.6 End-of-Chapter Exercises End-of-Chapter Exercises 1. Complete the following table (assume no preferred stock is...

Finance