FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Webster Company produces 36,000 units of product A, 28,000 units of product B,
and 11,000 units of product C from the same manufacturing process at a cost of
$350,000. A and B are joint products, and C is regarded as a by-product. The unit
selling prices of the products are $20 for A, $10 for B, and $1 for C. None of the
products require separable processing. Of the units produced, Webster Company
sells 29,000 units of A, 27,000 units of B, and 11,000 units of C. The firm uses the
net realizable value method to allocate joint costs and by-product costs. Assume
no beginning inventory. (Do not round intermediate calculations.)
1) What is the value of the ending inventory of product A?
2)What is the value of the ending inventory of product B?
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Transcribed Image Text:Webster Company produces 36,000 units of product A, 28,000 units of product B, and 11,000 units of product C from the same manufacturing process at a cost of $350,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of the products are $20 for A, $10 for B, and $1 for C. None of the products require separable processing. Of the units produced, Webster Company sells 29,000 units of A, 27,000 units of B, and 11,000 units of C. The firm uses the net realizable value method to allocate joint costs and by-product costs. Assume no beginning inventory. (Do not round intermediate calculations.) 1) What is the value of the ending inventory of product A? 2)What is the value of the ending inventory of product B?
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