At the end of his company's first year in operation, Joseph is allocating costs to the...
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At the end of his company's first year in operation, Joseph is allocating costs to the company's three main products: wheat flour, bleached white flour, and baking flour. These three products are produced from one main process, which costs the company $121,000. The company produced 2,040 pounds of wheat flour, 6,970 pounds of bleached white flour, and 7,990 pounds of baking flour. Of the quantities produced, Joseph notes sales of 80%, 90%, and 60% of the wheat, white, and baking flour quantities available, respectively. Calculate how much of the joint costs will be allocated to each of the three joint products under the physical quantities method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) Allocated joint costs Wheat White VA Baking At the end of his company's first year in operation, Joseph is allocating costs to the company's three main products: wheat flour, bleached white flour, and baking flour. These three products are produced from one main process, which costs the company $121,000. The company produced 2,040 pounds of wheat flour, 6,970 pounds of bleached white flour, and 7,990 pounds of baking flour. Of the quantities produced, Joseph notes sales of 80%, 90%, and 60% of the wheat, white, and baking flour quantities available, respectively. Calculate how much of the joint costs will be allocated to each of the three joint products under the physical quantities method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) Allocated joint costs Wheat White VA Baking
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Lets start with the calculations Step 1 Calculate the total quantity produced for each product Total quantity produced Quantity of product sold Sales ... View the full answer
Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
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