Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The...

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Accounting

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 Units Produced Sales Value at Split-Off If Processed Further

Additional Costs Sales Values

Chem-1 288,000 $ 220,000 $ 32,700 $ 260,000

Chem-2 176,000 264,000 29,400 290,000

Chem-3 192,000 149,600 24,900 180,000

Chem-4 144,000 246,400 26,300 270,000

800,000 $ 880,000 $ 113,300 $ 1,000,000

Product	Units Produced	Sales Value at Split-Off	If Processed Further
Chem-1	288,000	$ 220,000	$ 32,700	$ 260,000
Chem-2	176,000	264,000	29,400	290,000
Chem-3	192,000	149,600	24,900	180,000
Chem-4	144,000	246,400	26,300	270,000
	800,000	$ 880,000	$ 113,300	$ 1,000,000

Required:

Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product in May?

\begin{tabular}{|l|l|} \hline Product & JointCostsAllocated \\ \hline Chem-1 & \\ \hline Chem-2 & \\ \hline Chem-3 & \\ \hline Chem-4 & \\ \hline \end{tabular}

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Product	Units Produced	Sales Value at Split-Off	If Processed Further
Additional Costs	Sales Values
Chem-1	288,000	$ 220,000	$ 32,700	$ 260,000
Chem-2	176,000	264,000	29,400	290,000
Chem-3	192,000	149,600	24,900	180,000
Chem-4	144,000	246,400	26,300	270,000
	800,000	$ 880,000	$ 113,300	$ 1,000,000