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RovetRovet Company is one of the​ world's leading corn refiners. It produces two joint productslong dash—corn...

RovetRovet

Company is one of the​ world's leading corn refiners. It produces two joint

productslong dash—corn

syrup and corn

starchlong dash—using

a common production process. In July

20172017​,

RovetRovet

reported the following production and​ selling-price information:

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Requirement

Allocate the

$ 322 comma 000$322,000

joint costs using the NRV method. ​(Round the weights to two decimal​ places.)

Corn syrup

Corn starch

Total

Final sales value of total production

Deduct separable costs

NRV at splitoff point

Weighting

Joint costs allocated

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Data Table

Corn Syrup

Corn Starch

Joint Costs

Joint costs (costs of processing corn to splitoff point)

$322,000

Separable cost of processing beyond splitoff point

$372,760

$65,040

Beginning inventory (cases)

0

0

Production and Sales (cases)

12,400

5,800

Ending inventory (cases)

0

0

Selling price per case

$49

$24

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ekkarill92 answered 1 year ago
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