Question: 26. (Net realizable value method) Ankara Processing produces three seafood products in a single process. The joint cost is $32,000. Product Units Produced Unit Costs

26. (Net realizable value method) Ankara Processing produces three seafood products in a single process. The joint cost is $32,000.

Product Units Produced Unit Costs at Split-Off Selling Price X 9,000 $0.75 $4.00 Y 10,000 1.00 4.25 Z 1,000 0.10 0.50

a. Allocate the joint cost based on net realizable value at split-off. If necessary, use the net realizable value method for accounting for any by-products.

b. Determine the value of the inventory, assuming the following finished goods inventories:

Product Units X 600 Y 900 Z 54

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