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Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $178,800 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $211,000 299,200 455,600 Allocated Joint Costs Incremental profit (loss) $ $39,700 59,800 79,300 Cost to Process Further $110,800 Spock 85,200 250,000 Sales Value of Processed Product $300,100 400,200 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).) 800,800 Uhura Sulu

Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $178,800 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $211,000 299,200 455,600 Allocated Joint Costs Incremental profit (loss) $ $39,700 59,800 79,300 Cost to Process Further $110,800 Spock 85,200 250,000 Sales Value of Processed Product $300,100 400,200 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).) 800,800 Uhura Sulu

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $178,800 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $211,000 299,200 455,600 Allocated Joint Costs Incremental profit (loss) $ $39,700 59,800 79,300 Cost to Process Further $110,800 Spock 85,200 250,000 Sales Value of Processed Product $300,100 400,200 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 800,800 Uhura Sulu
Transcribed Image Text:Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $178,800 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $211,000 299,200 455,600 Allocated Joint Costs Incremental profit (loss) $ $39,700 59,800 79,300 Cost to Process Further $110,800 Spock 85,200 250,000 Sales Value of Processed Product $300,100 400,200 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 800,800 Uhura Sulu
Indicate whether each of the three joint products should be sold as is, or processed further. Spock Uhura Sulu
Transcribed Image Text:Indicate whether each of the three joint products should be sold as is, or processed further. Spock Uhura Sulu
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