(Allocating joint cost) Keiffer Production manufactures three joint products in a single process. The following information is available for August 2010:
|
|
Sales Value |
|
|
|
|
|
at Split Off |
Cost after |
Final Selling |
|
|
Product |
Gallons |
per Gallon |
Split Off |
Price |
|
JP 4539 |
4,500 |
$14 |
$4 |
$24 |
|
JP 4587 |
18,000 |
8 |
5 |
15 |
|
JP 4591 |
13,500 |
18 |
2 |
22 |
Allocate the joint cost of $558,000 to the production based on the
a. number of gallons.
b. sales value at split off .
c. approximated net realizable values at split off . (Round all percentages to the nearest whole percentage.)