Great Falls Company manufactures two products, Wool Gloves and Wool Gloves. They are initially processed from the same raw material and then separately processed after separation. Additional information is as follows:

	gloves			gloves			Total
Final Sale Price	$	13.200		$	10.620		$	23.820
Joint Costs Before Splitting Point		?			?		$	9.012
Costs Beyond the Point of Departure	$	4.400		$	4.400		$	8.800

What are the joint costs allocated to Gloves and Single Gloves, assuming Great Falls uses the estimated net realizable value approach?

Answer rating: 100% (QA)

1 Allocate joint costs using the estimated net realizable value approach STEP 1 Determine the net re... View the full answer