The Kenton Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk....
50.1K
Verified Solution
Link Copied!
Question
Accounting
The Kenton Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June: Direct Materials processed: 18,000 gallons (after shrinkage) Production: Sales Butter Cream Condensed Milk Butter Cream Condensed Milk Butter Cream Condensed Milk Butter Cream 7,500 gallons 10,500 gallons 7,000 gallons 10,000 gallons $3.5 per gallon $7.5 per gallon $12,500 Sales Price: Separable costs in total: Condensed Milk $34,700 The cost of purchasing the of unprocessed milk and processing it up to the splitoff point to yield a total of 18000 gallons of saleable product was $46,000. The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Condensed Milk? O A. $35,200 OB. $10,800 OC. $12,500 OD. $34,700
Answer & Explanation
Solved by verified expert
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!
