California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts...
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California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts Number 1 Number 2 Number 3 Total Sales $ 489,600 326,400 204,000 $1,020,000 The company incurred the following joint costs for the year. Tree pruning and care Pickup, sorting, and grading $ 550,800 183,600 Required: 1. Use the value basis to allocate joint costs to the three grades of walnuts on the basis of sales value. California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts Number 1 Number 2 Number 3 Total Sales $ 489,600 326,400 204,000 $1,020,000 The company incurred the following joint costs for the year. Tree pruning and care Pickup, sorting, and grading $ 550,800 183,600 Required: 1. Use the value basis to allocate joint costs to the three grades of walnuts on the basis of sales value.
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