☑ 11 Douglass Minerals mines ore and then processes it into other products. At the end of the mining process, the ore splits off into three products: Metal-A, Metal-B, and Metal-C. Douglass sells Metal-C at the split-off point, with no further processing. Metal-A is processed in Plant A, and Metal-B is processed in Plant B. The following is a summary of costs and other related data for the period ended December 31: Process: Labor Mining Plant A 01:58:22 $ 468,000 $ 402,000 Manufacturing overhead $ 384,000 $ 336,000 Plant B $ 276,000 $ 132,000 Products Units sold eBook Units in ending inventory (December 31) Sales revenue Metal-A 222,000 75,000 Metal-B 168,000 0 Metal-C 75,000 60,000 $ 1,110,000 $ 582,000 $ 187,500 Douglass Minerals had no beginning inventories on hand at the beginning of the period. Douglass Minerals uses the net realizable value method to allocate joint costs. Required: Compute the following: a. The net realizable value of Metal-C for the period ended December 31. b. The joint costs for the period ended December 31 to be allocated. c. The cost of Metal-B sold for the period ended December 31. Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. d. The value of the ending inventory for Metal-C. Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. a. Net realizable value of Metal-C b. Joint costs c. Cost of Metal-B sold d. Ending inventory for Metal-C

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 1MC: Clark Kent Inc. buys crypton for $.80 a gallon. At the end of processing in Dept. 1, crypton splits...