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Processing beyond split-off and cost allocations All-A-Buzz makes three...

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Accounting

Processing beyond split-off and cost allocations
All-A-Buzz makes three products from a joint production process using honey.
Joint cost for the process for the year is $246,400.
Each container of honey butter, jam, and syrup, respectively, contains 16 ounces, 8 ounces, and 3 ounces of product.
a. Determine which products should be processed beyond the split-off point.
b. Assume honey syrup should be treated as a by-product. Allocate the joint cost based on (1) units produced, (2) weight, and (3) sales value at split-off. Use the net realizable value approach,
assuming by-product revenues reduce joint production costs.
(1) joint cost allocated based on units produced
(2) joint cost allocated based on weight
(3) joint cost allocated based on sales value at split-off
Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar.
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