Question: Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The
Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: Sales Value at Split-Off $222,000 266,000 151,600 If Processed Further Additional Costs $ 32,900 Sales Values: $ 262,000 Product Chem-1 Units Produced 290,000 Chem-2 178,000 29,600 Chen-3 Chem-41 194,000 146,000 25,100 248,400 26,500 272,000 808,000 $ 888,000 $114,100 $1,008,000 292,000 182,000 Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. NRV at Split- Joint Costs Product Off Allocated Chem-1 Chem 2 Chem-3 Chem-4
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
