Question: Exercise 17-21 Relative-Sales-Value Method; Joint Cost Allocation (LO 17-4) Breakfasttime Cereal Company manufactures two breakfast cereals in a joint process. Cost and quantity information

Exercise 17-21 Relative-Sales-Value Method; Joint Cost Allocation (LO 17-4) Breakfasttime Cereal Company

Exercise 17-21 Relative-Sales-Value Method; Joint Cost Allocation (LO 17-4) Breakfasttime Cereal Company manufactures two breakfast cereals in a joint process. Cost and quantity information is as follows: Sales Price Joint Cost $110,000 Cereal Yummies Crummies Quantity at Split-Off Point 14,000 kilograms 10,000 kilograms per Kilogram $8.00 9.50 Required: Use the relative-sales-value method to allocate Breakfasttime Cereal Company's joint production cost between Yummies and Crummies. (Round intermediate calculations of Relative Proportions to 3 decimal places and final answers to the nearest dollar amount.) Yummies Crummies Total Sales Value at Split-off Point Allocation of Joint Cost $ 0 $ 0

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!