Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. barrett chemicals manufactures four chemicals, che

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

90.2K

Verified Solution

Question

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-1307,000 $ 239,000 $ 34,600 $ 279,000
Chem-2195,000283,00031,300309,000
Chem-3211,000168,60026,800199,000
Chem-4163,000265,40028,200289,000
876,000 $ 956,000 $ 120,900 $ 1,076,000
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.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Let c be a positive number. A differential equation of the form below where k is...

Biology
1.2K views

Question 5 Points 2 Which of the following statement s about Philadelphia convention is are...

Basic Math
1.2K views

Lesson 10 A New Kind of Number Cool Down What is Real What is Imaginary...

Basic Math
1.2K views

A donut shop offers twelve different varieties of donuts How many donuts must be selected...

Basic Math
1.2K views

1 1 The one to one function h is defined below Find h x where...

Basic Math
1.2K views

On April 1st, 2020 there were 736 COVID-19 cases recorded in Oregon state. And on...

Calculus
1.2K views

4 Let r x y z and r r x y z Find the equation...

Accounting
1.2K views

A machine with a cost of $120,000 has an...

Accounting
1.2K views

Distinguish between rightful and wrongful disassociation from an LLC. What are the consequences of disassociation?

Accounting
1.2K views

TB MC Ou, 8-90 (Static) Orchnord Company hos forecost soles to be $250,000 in.. mines...

Accounting
1.2K views

Commissions from outside guest laundry services are shown on the: ...

Finance
1.2K views

Suppose that IBMs stock price is $28, the strike price is $25, and the risk-free...