Joint Cost AllocationMarket Value at Split-off Method Gripturn Inc. produces two different styles of door...
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Joint Cost AllocationMarket Value at Split-off Method
Gripturn Inc. produces two different styles of door handles, standard and curved. The door handles go through a joint production molding process costing $28,000 per batch and producing 1,600 standard door handles and 800 curved door handles at the split-off point. Both door handles undergo additional production processes after the split-off point, but could be sold at that point: the standard style for $4 per door handle and the curved style for $2 per door handle.
Determine the amount of joint production costs allocated to each style of door handle using the market value at split-off method.
| Joint Product | Allocation |
|---|---|
| Standard door handle | $fill in the blank 1 |
| Curved door handle | fill in the blank 2 |
| Totals | $fill in the blank 3 |
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