Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a...

Question

Question

Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a...

Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $130,000 was as follows:

		L		M		N		Total
Separable Processing cost	$	15,500	$	36,000	$	18,500	$	70,000
Units Produced		3,400		8,000		6,500		17,900
Sales Value (after addt’l processing)	$	82,000	$	77,500	$	40,000	$	199,500

The amount of joint costs allocated to product L using the physical measure method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):

Multiple Choice

$58,101.
$46,877.
$47,207.
$40,552.
$24,693.

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

$24693 is correct answer

Working Note
	L	M	N	Total
No Of Units Produced	3,400	8,000	6,500	17,900
Ratio	18.99%	44.69%	36.31%	100.00%
Allocation Of joint cost (130000*Ratio)	24,693	58,101	47,207	130,000

Add a comment

Answer 2

Similar Homework Help Questions

Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a...

Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $125,000 was as follows: L M N Total Separable Processing cost $ 15,000 $ 35,000 $ 17,000 $ 67,000 Units Produced 3,200 7,500 6,300 17,000 Sales Value (after addt’l processing) $ 80,000 $ 75,000 $ 37,000 $ 192,000 The amount of joint costs allocated to product N using the net realizable value method is (calculate...
Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product...

Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Key information about Marin's production, sales, and costs follows. DBB-1 DBB-2 DBB-3 Total Units Sold 16,000 24,000 36,000 76,000 Price (after addt’l processing) $ 65 $ 50 $ 75 Separable Processing cost $...
Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product...

Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Key information about Marin's production, sales, and costs follows. DBB-1 DBB-2 DBB-3 Total Units Sold 17,000 26,000 38,000 81,000 Price (after addt’l processing) $ 25 $ 10 $ 35 Separable Processing cost $...

Tango Company produces joint products M, N, and T from a joint process. This information concerns...

Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $140,000: After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M 12,000 $ 13,400 $ 180,000 N 6,000 10,400 160,000 T 7,000 5,200 29,000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations....
Tango Company produces joint products M, N, and I from a joint process. This information concerns...

Tango Company produces joint products M, N, and I from a joint process. This information concerns a batch produced in April at a joint cost of $155,000: Product Units Produced and Sold 13,500 7,500 T 8,500 After Split-off Total Separable Costs Total Final Sales Value $ 10,000 $195,000 15,900 175,000 6,100 32,000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations. Enter your final...
Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product...

Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Key information about Marin's production, sales, and costs follows. DBB-1 DBB-2 DBB-3 Total Units Sold 14,000 22,000 30,000 66,000 Price (after addt’l processing) $ 30 $ 15 $ 40 Separable Processing cost $...

Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product...

Marin Products produces three products — DBB-1, DBB-2, and DBB-3 from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Key information about Marin's production, sales, and costs follows. DBB-1 DBB-2 DBB-3 Total Units Sold 14,000 23,000 30,000 67,000 Price (after addt’l processing) $ 75 $ 60 $ 85 Separable Processing cost $...
Garrison Co. produces three products — X, Y, and Z — from a joint process. Each...

Garrison Co. produces three products — X, Y, and Z — from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $122,000. Sales values and costs needed to evaluate Garrison's production policy follow. Units Sales Value at...
Cambridge Company manufactures three main products, L, M, and N, from a joint process. Additional information...

Cambridge Company manufactures three main products, L, M, and N, from a joint process. Additional information for June production activity follows: M 67,000 50,000 Units produced Joint costs Sales value at split-off Additional costs if process further Sale value if processed further N 13,000 ? $70,000 $22,000 $88,000 Total 130,000 $ 460,000 $ 780,000 $160,000 $966,000 $430,000 $ 98,000 $548,000 $280,000 $ 40,000 $330,000 Assuming that the 13,000 units of N were processed further and sold for $88,000, what was...

Cambridge Company manufactures three main products, L, M, and N, from a joint process. Additional information...

Cambridge Company manufactures three main products, L, M, and N, from a joint process. Additional information for June production activity follows: L M N Total Units produced 60,200 46,000 11,800 118,000 Joint costs ? ? ? $ 456,000 Sales value at split-off $ 426,000 $ 276,000 $ 66,000 $ 768,000 Additional costs if process further $ 94,000 $ 36,000 $ 18,000 $ 148,000 Sale value if processed further $ 544,000 $ 326,000 $ 84,000 $ 954,000 Assuming that the 11,800...

Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a...

Homework Answers