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

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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

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