A $-$ One Chicken grows and processes chickens. Each chicken is disassembled into five main parts. A$-$One Chicken

is computing the ending inventory values for its July $31,2017,$ balance sheet. Ending inventory amounts on July $31$ are

$15$ pounds of breasts, $6$ pounds of wings, $6$ pounds of thighs, $7$ pounds of bones, and $2$ pounds of feathers.

A $-$ One Chicken's management wants to use the sales value at splitoff method. However, management wants

you to explore the effect on ending inventory values of classifying one or more products as a byproduct rather

than a joint product.

$($Click to view information on the sales value at splitoff method.$)$

Read the requirements.

including zero balances.$)$

Requirements

Reference

Assume A $-$ One Chicken classifies all five products as joint products. What are the ending

inventory values of each product on July $31,2017?$

Assume A $-$ One Chicken uses the production method of accounting for byproducts. What are

the ending inventory values for each joint product on July $31,2017,$ assuming breasts and

thighs are the joint products and wings, bones, and feathers are byproducts?

Comment on differences in the results in requirements $1$ and $2.$A$-$ One Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July $2020$ follows: $($Click the icon to view the information.$)$ Joint cost of production in July $2020$ was $ $50.$ Requirement $1$a$.$ Compute the cost of the special shipment destroyed using the sales value at splitoff method. Complete the table below to assist you. $($Round the weighting to three decimal places and the allocated costs per pound ins of breasts and $15$ pounds of wings has been destroyed in a fire. A$-$ One Company permits A$-$One A $-$ One Chickides reimbursement for the cost of the items destroyed. The insurance the end of the production process.