Question: Exercise 11-51 (Algo) Estimated Net Realizable Value Method (LO 11-3) Forest Products, Incorporated, manufactures three products (FP-10, FP-20, and FP-40) from a single, Joint input.

Exercise 11-51 (Algo) Estimated Net Realizable Value Method (LO 11-3) Forest Products, Incorporated, manufactures three products (FP-10, FP-20, and FP-40) from a single, Joint input. None of the products can be sold without further processing. In November, joint product costs were $241,100. Additional Information follows: Product Units Produced 99,000 148,500 82,500 FP-10 FP-20 FP-40 Required: Sales Values $176,250 310,750 85,100 Processing Costs (After) Split-Off) $ 29,100 109,100 25,100 Forest Products uses the estimated net realizable value method to allocate joint costs. What joint costs would be allocated to each of the three products in November? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts. Joint Costs Allocated Product FP-10 FP-20 FP-40

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!