Question: Saint John Mining operates several facilities. At one, a typical batch of an ore, Pryex, run through the processing plant yields three products: PX-10, PX-20,


Saint John Mining operates several facilities. At one, a typical batch of an ore, Pryex, run through the processing plant yields three products: PX-10, PX-20, and PX-30. At the split-off point, the intermediate products cannot be sold without further processing. A typical batch of PX-10 sells for $116,000 after incurring additional processing costs of $32,000. PX-20 can be sold for $176,000 after additional processing costs of $56,000, and the PX-30 sells for $232,000 but requires additional processing costs of $88,000. The joint costs of processing the Pryex, including the cost of mining, are $252,000 per batch. Required: Use the estimated net realizable value method to allocate the joint processing costs. Note: Do not round intermediate calculations. Enter percentage answers rounded to 2 decimal places and other final answers to the nearest whole dollar amounts. Estimated sales value at split-off Percent of total sales values at split-off Cost allocation PX-10 % PX-20 % PX-30 % Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $155,000. The sales value at split- off was $165,600 for 3,200 units of Kappa and $63,280 for 4,800 units of Lambda. Required: a. 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. b. What joint costs are allocated to the two products using the physical quantities method? Note: Do not round intermediate calculations. a. Net realizable value method b. Physical quantities method Lambda
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