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: If Processed Further Product Chem-1 Units Produced Sales Value at Additional 291,000 Split-Off $ 223,000 Costs Sales Values $ 33,000 $ 263,000 Chem-2 179,000 267,000 Chem-3 195,000 Chem-4 147,000 152,600 249,400 29,700 25,200 293,000 26,600 183,000 273,000 812,000 $ 892,000 $ 114,500 $ 1,012,000 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. Product NRV at Split- Off Joint Costs Allocated Chem-1 Chem-2 Chem-3 Chem-4
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: If Processed Further Product Chem-1 Units Produced Sales Value at Additional 291,000 Split-Off $ 223,000 Costs Sales Values $ 33,000 $ 263,000 Chem-2 179,000 267,000 Chem-3 195,000 Chem-4 147,000 152,600 249,400 29,700 25,200 293,000 26,600 183,000 273,000 812,000 $ 892,000 $ 114,500 $ 1,012,000 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. Product NRV at Split- Off Joint Costs Allocated Chem-1 Chem-2 Chem-3 Chem-4
Chapter1: Financial Statements And Business Decisions
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