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The ABC Company processes unprocessed milik up to the split-off point where two products, Condensed...

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Accounting

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The ABC Company processes unprocessed milik up to the split-off point where two products, Condensed Milk and Skim Mikk result. Ihe roilowing information was collected for the month of October: Direct Moterials processed: 104,000 gallons Production: - Condensed Milik 45,500 gallons - Skim Milik 58,500 gallons Soles: - Condensed Milk $5.00 per gallon - Skim Milk: $4.50 per gallon The costs of purchasing the unprocessed milk and processing it up to the split-off point was $186,480. Condensed Mik may be processed further to yield 45,000 gallons (the remainder is shrinkage) of a medicinal milk product, Medi, for an additional processing cost of $4 per gallon. Medi can be sold for $19 per gallon. Skim Mikk can be processed further to yield 57,200 gallons of ke Cream, for an additional processing cost per gallon of $4, ke Cream can be sold for 59 per gallon. Using estimated net realizable value, what amount of the joint costs would be allocated to Medi and to kce Cream? $675.000 and $286,000 $93,240 and 593,240 $130,982 and $55,498 $86,448 and $100,032

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