Keiffer Production manufactures three joint products in a single process. The fo

Question

Keiffer Production manufactures three joint products in a single process. The following information is available for August 2010:

             Gal.      Sales Value      Value after split         Final selling price         

JP-4539 4,500    $14                   $4                                $24
JP-4587 18,000    $8                   $5                                $15
JP-4591 13,000   $18                  $2                                 $22



Allocate the joint cost of $558,000 to the production based on the

1.number of gallons.
2.sales value at split-off.
3.approximated net realizable values at split-off.

a. Number of gallons.

Round percentages to one decimal place i.e. 25.5% or .255.

JP-4539 $
JP-4587 $
JP-4591 $

b. Sales value at split-off.

Round percentages to the nearest whole number.

JP-4539 $
JP-4587 $
JP-4591 $

c. Approximated net realizable values at split-off.

Round percentages to the nearest whole number.

JP-4539 $
JP-4587 $
JP-4591 $

Explanation / Answer

http://homeworkcollection.com/Keiffer%20Production%20manufactures%20three%20joint%20products%20in%20a%20single%20process-ANSWER%20KEY%20%28INSTANT%20DOWNLOAD%29

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