Question: Problem 1 1 - 7 0 ( Algo ) Net Realizable Value of Jolnt Froducts ( LO 1 1 3 ) Douglass Winerals mines ore
Problem Algo Net Realizable Value of Jolnt Froducts LO
Douglass Winerals mines ore and then processes it into other products. At the end of the mining process, the ore splits off linto three products: MetalA MetalB and MetalC Douglass sells MetalC at the spiltoff point, with no further processing. MetalA Is processec in Plant A and MetalB is processed in Plant B The following is a summary of costs and other related data for the period ended December
Douglass Minerals had no beginning inventorles on hand at the beginning of the pertod. Douglass Minerals uses the net realizable value method to allocate joint costs.
Required:
Compute the following:
a The net realizable value of MetalC for the perlod ended December
b The Joint costs for the perlod ended December to be allocated.
c The cost of MetalB sold for the perlod ended December Note: Do not round intermediate calculations. Pound your final answer to the nearest whole dollar.
d The value of the ending inventory for MetalC
Note: Do not round intermediate calculations. Pound your final answer to the nearest whole dollar.
tablea Net realizable value of MetalCb Joint costsc Cost of MetalB soldd Ending inventory for MetalC
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