Spartan Chemicals manufactures G-1, G-2, and G-3 from a joint process. Each gas can be...
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Accounting
Spartan Chemicals manufactures G-1, G-2, and G-3 from a joint process. Each gas can be liquified and sold for a higher price. Data on the process are as follows:
Required:
Determine the value of the missed item. (Do not round intermediate calculations.)
Product
G-1
G-2
G-3
Total
Units produced
32,200
16,500
8,600
57,300
Joint costs
$62,000
$124,000
Sales value at split-off
$90,600
604,000
Additional costs to liquify
42,700
$34,500
18,000
95,200
Sales value if liquified
421,000
183,000
120,000
724,000
The joint costs of $62,000 for G-1 is the portion of the total joint cost of $124,000 that had been allocated to G-1.
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