Question: Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $ 1 6 9 , 0 0 0 . The

Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $169,000. The sales value at split-off was $175,680 for 8,800 units of Kappa and $63,280 for 13,200 units of Lambda.
Required:
What joint costs are allocated to the two products using the net realizable value at split-off approach?
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts.
What joint costs are allocated to the two products using the physical quantities method?
Note: Do not round intermediate calculations.

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!