Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: Product Chem-1 Chem-2 Chen-3 Chen-4 Units Produced 308,000 196,000. 212,000 164,000 880,000 NRV at Split-Off Sales Value at Additional Costs If Processed Further Split-Off $ 240,000 284,000 169,600 266,400 $ 960,000 $ 121,300 Joint Costs Allocated Product Chem-1 $ 245,300 $ Chem-2 $ 278,600 S Chem-3 $ 173,100 $ Chem-4 $ 261,700 $ Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. 144,328 163,898 101,858 153,972 $ 34,700 31,400 26,900 28,300 Sales Values: $ 280,000 310,000 200,000 290,000 $ 1,080,000
Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: Product Chem-1 Chem-2 Chen-3 Chen-4 Units Produced 308,000 196,000. 212,000 164,000 880,000 NRV at Split-Off Sales Value at Additional Costs If Processed Further Split-Off $ 240,000 284,000 169,600 266,400 $ 960,000 $ 121,300 Joint Costs Allocated Product Chem-1 $ 245,300 $ Chem-2 $ 278,600 S Chem-3 $ 173,100 $ Chem-4 $ 261,700 $ Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. 144,328 163,898 101,858 153,972 $ 34,700 31,400 26,900 28,300 Sales Values: $ 280,000 310,000 200,000 290,000 $ 1,080,000
Chapter1: Financial Statements And Business Decisions
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