Contabilidad de costos

THE FOLLOWING INFORMATION APPLIES TO QUESTIONS 1 THROUGH 5.
The Morton Company processes unprocessed goat milk up to the splitoff point where two products, condensed goat milk and skim goat milkresult. The following information was collected for the month of October:

Direct Materials processed: 65,000 gallons (shrinkage was 10%)

Production: condensed goat milk 26,100 gallons
skimgoat milk 32,400 gallons

Sales: condensed goat milk $3.50 per gallon
skim goat milk $2.50 per gallon

The costs of purchasing the 65,000 gallons of unprocessed goat milk and processing it up tothe split off point to yield a total of 58,500 gallons of salable product was $72,240. There were no inventory balances of either product.

Condensed goat milk may be processed further to yield19,500 gallons (the remainder is shrinkage) of a medicinal milk product, Xyla, for an additional processing cost of $3 per usable gallon. Xyla can be sold for $18 per gallon.

Skim goat milk can beprocessed further to yield 28,100 gallons of skim goat ice cream, for an additional processing cost per usable gallon of $2.50. The product can be sold for $9 per gallon.

There are no beginningand ending inventory balances.

1. What is the estimated net realizable value of Xyla at the splitoff point?






2. What is the estimated net realizable value of the skim goat ice cream atthe splitoff point.




3. Using estimated net realizable value, what amount of the $72,240 of joint costs would be allocated Xyla and the skim goat ice cream?


THE FOLLOWING INFORMATIONAPPLIES TO QUESTIONS 1 THROUGH 5.
The Morton Company processes unprocessed goat milk up to the splitoff point where two products, condensed goat milk and skim goat milk result. The following informationwas collected for the month of October:

Direct Materials processed: 65,000 gallons (shrinkage was 10%)

Production: condensed goat milk 26,100 gallons
skim goat milk 32,400 gallons...