Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. franklin chemical company makes three products, b7

Franklin Chemical Company makes three products, B7, K6, and X9, which are joint products from...

80.2K

Verified Solution

Question

Accounting

Franklin Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 357,000 pounds of raw materials, the company generates 70,000 pounds of B7, 168,000 pounds of K6, and 119,000 pounds of X9. A standard batch costs $2,856,000 to produce. The sales prices per pound are $10, $15, and $20 for B7, K6, and X9, respectively. Required

  1. Allocate the joint product cost among the three final products using weight as the allocation base.

  2. Allocate the joint product cost among the three final products using market value as the allocation base.

imageimage

Required A Required B Allocate the joint product cost among the three final products using weight as the allocation base. Allocation Rate x Weight of Base = Allocated Cost Product B7 K6 Total allocated cost Required A Required B Allocate the joint product cost among the three final products using market value as the allocation base. (Round "Allocation rate" to 2 decimal places.) Product Allocation Rate x Weight of Base - Allocated Cost B7 0 K6 X9 Total allocated cost

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