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A dairy operation processes raw milk into two main products: skim milk and cream. Both of these products are salable at the end of the joint process, worth $13,000 and $24,000, respectively. The skim milk can be further processed at a cost of $7,830 in order to yield sweetened condensed milk. This final product can be sold for $24,000. The cream can also be processed further, at a cost of $10,170, in order to generate butter, which is worth $43,000. If the joint process costs are $21,000, how much of the joint cost will be allocated to each product under the NRV method? (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) Allocated joint costs Skim Milk Cream

A dairy operation processes raw milk into two main products: skim milk and cream. Both of these products are salable at the end of the joint process, worth $13,000 and $24,000, respectively. The skim milk can be further processed at a cost of $7,830 in order to yield sweetened condensed milk. This final product can be sold for $24,000. The cream can also be processed further, at a cost of $10,170, in order to generate butter, which is worth $43,000. If the joint process costs are $21,000, how much of the joint cost will be allocated to each product under the NRV method? (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) Allocated joint costs Skim Milk Cream

Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter11: Linear Optimization Models
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Problem 7P: Vollmer Manufacturing makes three components for sale to refrigeration companies. The components are...
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A dairy operation processes raw milk into two main products: skim milk and cream. Both of these products are salable at the end of the joint process, worth $13,000 and $24,000, respectively. The skim milk can be further processed at a cost of $7,830 in order to yield sweetened condensed milk. This final product can be sold for $24,000. The cream can also be processed further, at a cost of $10,170, in order to generate butter, which is worth $43,000. If the joint process costs are $21,000, how much of the joint cost will be allocated to each product under the NRV method? (Round proportion to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,125.) Allocated joint costs Skim Milk Cream
Transcribed Image Text:A dairy operation processes raw milk into two main products: skim milk and cream. Both of these products are salable at the end of the joint process, worth $13,000 and $24,000, respectively. The skim milk can be further processed at a cost of $7,830 in order to yield sweetened condensed milk. This final product can be sold for $24,000. The cream can also be processed further, at a cost of $10,170, in order to generate butter, which is worth $43,000. If the joint process costs are $21,000, how much of the joint cost will be allocated to each product under the NRV method? (Round proportion to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,125.) Allocated joint costs Skim Milk Cream
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