Question

In: Accounting

Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint...

Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows:

If Processed Further
Product Units Produced Sales Value at Split-Off Additional Costs Sales Values
W-10 61,600 $ 368,000 $ 39,600 $ 402,000
W-20 44,000 316,000 31,600 368,000
W-30 35,200 212,000 21,200 264,000
W-40 35,200 160,000 13,200 176,000
176,000 $ 1,056,000 $ 105,600 $ 1,210,000

Required:

Assuming that total joint costs of $443,520 were allocated using the physical quantities method, what joint costs were allocated to each product? (Do not round intermediate calculations.)

Solutions

Expert Solution

Grades Joint costs allocation
W-10 $                           155,232 =443520*(61600/176000)
W-20 $                           110,880 =443520*(44000/176000)
W-30 $                              88,704 =443520*(35200/176000)
W-40 $                              88,704 =443520*(35200/176000)
Total $                           443,520

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