Part 2: Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes....
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Accounting
Part 2: Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer, the joint costs of processing the tomatoes were $420,000. There was no beginning or ending inventories for the summer. Production and sales value information for the summer were as follows: Product Cases Additional Costs Selling Price Ketchup 100,000 $3.00 per case $28 per case Juice 150,000 5.00 per case $25 per case Canned 200,000 2.50 per case 10 per case Required: a. Determine the amount allocated to each product if the estimated net realizable value method is used. b. Determine the amount allocated to each product if the physical units method is used
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