Exercise 11-48 (Algo) Physical Quantities Method (LO 11-3)Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs inMay were $598,000. Additional information follows:If Processed FurtherProductChem-1Chem-2UnitsProduced248,000Sales Value at AdditionalSplit-Off$ 188,480CostsSales Values$ 27,280$ 223,200160,000240,00025,600262,400Chem-3216,000Chem-4176,000168,480299,20025,92031,680202,500330,000800,000$ 896,160$ 110,480$ 1,018,100Required:Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product inMay?Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts.Joint CostsProductAllocatedChem-1Chem-2Chem-3Chem-4

Joint cost means the cost incurred to produce more than one units and then joint cost need to be…

Exercise 11-48 (Algo) Physical Quantities Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $598,000. Additional information follows: If Processed Further Sales Value at Additional Product Units Produced Chem-1 248,000 Split-Off $ 188,480 Chem-2 160,000 Chem-3 216,000 Chem-4 176,000 800,000 240,000 168,480 299,200 25,600 Costs Sales Values $ 27,280 $ 223,200 262,400 25,920 202,500 31,680 330,000 $ 896,160 $ 110,480 $ 1,018,100 Required: Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Product Chem-1 Chem-2 Chem-3 Chem-4 Joint Costs Allocated

Exercise 11-48 (Algo) Physical Quantities Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $598,000. Additional information follows: If Processed Further Sales Value at Additional Product Units Produced Chem-1 248,000 Split-Off $ 188,480 Chem-2 160,000 Chem-3 216,000 Chem-4 176,000 800,000 240,000 168,480 299,200 25,600 Costs Sales Values $ 27,280 $ 223,200 262,400 25,920 202,500 31,680 330,000 $ 896,160 $ 110,480 $ 1,018,100 Required: Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Product Chem-1 Chem-2 Chem-3 Chem-4 Joint Costs Allocated

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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