Webster Company produces 30,000 units of product A, 25,000 units of product B, and 16,500 units of product C from the same manufacturing process at a cost of $405,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of the products are $25 for A, $10 for B, and $2 for C. None of the products requires separable processing. Of the units produced, Webster Company sells 23,000 units of A, 24,000 units of B, and 16,500 units of C. The firm uses the net realizable value method to allocate joint costs and by-product costs. Assume no beginning inventory. Required: 1. What is the value of the ending inventory of product A? 2. What is the value of the ending inventory of product B? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the value of the ending inventory of product A? (Do not round intermediate calculations.) Ending inventory < Required 1 Required 2 >

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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er 7 Homework i
4
t
]
Required:
1. What is the value of the ending inventory of product A?
2. What is the value of the ending inventory of product B?
Required 1
S
Webster Company produces 30,000 units of product A, 25,000 units of product B, and 16,500 units of product C from the same
manufacturing process at a cost of $405,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of
the products are $25 for A, $10 for B, and $2 for C. None of the products requires separable processing. Of the units produced,
Webster Company sells 23,000 units of A, 24,000 units of B, and 16,500 units of C. The firm uses the net realizable value method to
allocate joint costs and by-product costs. Assume no beginning inventory.
Required 2
TRANGE
Complete this question by entering your answers in the tabs below.
Obel-0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com
< Required 1
What is the value of the ending inventory of product A? (Do not round intermediate calculations.)
Ending inventory
Saved
Required 2 >
ہے
Transcribed Image Text:er 7 Homework i 4 t ] Required: 1. What is the value of the ending inventory of product A? 2. What is the value of the ending inventory of product B? Required 1 S Webster Company produces 30,000 units of product A, 25,000 units of product B, and 16,500 units of product C from the same manufacturing process at a cost of $405,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of the products are $25 for A, $10 for B, and $2 for C. None of the products requires separable processing. Of the units produced, Webster Company sells 23,000 units of A, 24,000 units of B, and 16,500 units of C. The firm uses the net realizable value method to allocate joint costs and by-product costs. Assume no beginning inventory. Required 2 TRANGE Complete this question by entering your answers in the tabs below. Obel-0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com < Required 1 What is the value of the ending inventory of product A? (Do not round intermediate calculations.) Ending inventory Saved Required 2 > ہے
P1
P2
Department
Service 1 (51)
Service 2 (52)
Production 1 (P1)
Production 2 (P2)
Required information
[The following information applies to the questions displayed below.]
The following information is departmental cost allocation with two service departments and two production departments.
Cost
$ 46,000
36,000
260,000
310,000
Total Cost
Allocated
CARIN
Percentage Service
Provided to
25
.
$2
20% 40% 40%
Do
30
What is the amount of service department cost allocated to P1 and P2 using the direct method?
Saved
Transcribed Image Text:P1 P2 Department Service 1 (51) Service 2 (52) Production 1 (P1) Production 2 (P2) Required information [The following information applies to the questions displayed below.] The following information is departmental cost allocation with two service departments and two production departments. Cost $ 46,000 36,000 260,000 310,000 Total Cost Allocated CARIN Percentage Service Provided to 25 . $2 20% 40% 40% Do 30 What is the amount of service department cost allocated to P1 and P2 using the direct method? Saved
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