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Husky Orchards processes apples into apple juice, apple sections, and applesauce. During 20X2, Husky Orchards...

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Accounting

Husky Orchards processes apples into apple juice, apple sections, and applesauce. During 20X2, Husky Orchards processed 500,000 kilograms of apples. The joint costs of processing the apples were $2,400,000. Following the joint process, the separate products can be further processed with no loss of volume. There were no beginning inventories at the beginning of 20X2. Production and sales value information for 20X2 were as follows: A B C D Number of Cases Sales Value at Split-Off Separable costs Final Selling Price Juice 100,000 $ 23 per case $ 410,000 $ 28 per case Sections 125,000 $ 20 per case $ 450,000 $ 26 per case Sauce 200,000 $ 10 per case $ 490,000 $ 14 per case REQUIRED: SHOW YOUR DETAILED CALCULATIONS 1. Assume that Husky Orchards uses the Net Realizable Value Method to allocate joint costs and processes all products to their final state. Allocate the joint costs among the joint products. 2. On January 1 of 20X3 a flood destroyed 20,000 cases of Juice and 15,000 cases of Sauce remaining in inventory. What is the value of the destroyed inventory?

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