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The Silver Center (TSC) produces cups and platters. TSC purchases silver and other metals that are processed into silver alloy that is used to make platters and cups. TSC incurred $74,000 of materials cost and $78,000 of labor cost to produce the silver alloy. Platters are made first and the residual alloy is remixed into a lower grade silver plated material that is used to make the cups. Remixing cost amount to $10,500. The recent batch contained 21,000 platters and 9,500 cups. TSC sold the platters for $270,000 and the cups for $46,000. If relative market value is used to allocate the joint cost, what is the income earned for cups? (Round intermediate calculation to 2 decimal places.)

The Silver Center (TSC) produces cups and platters. TSC purchases silver and other metals that are processed into silver alloy that is used to make platters and cups. TSC incurred $74,000 of materials cost and $78,000 of labor cost to produce the silver alloy. Platters are made first and the residual alloy is remixed into a lower grade silver plated material that is used to make the cups. Remixing cost amount to $10,500. The recent batch contained 21,000 platters and 9,500 cups. TSC sold the platters for $270,000 and the cups for $46,000. If relative market value is used to allocate the joint cost, what is the income earned for cups? (Round intermediate calculation to 2 decimal places.)

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter19: Support Department And Joint Cost Allocation
Section: Chapter Questions
Problem 4CMA: Tucariz Company processes Duo into two joint products, Big and Mini. Duo is purchased in...
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The Silver Center (TSC) produces cups and platters. TSC purchases silver and other metals that are processed into silver alloy that is used to make platters and cups. TSC incurred $74,000 of materials cost and $78,000 of labor cost to produce the silver alloy. Platters are made first and the residual alloy is remixed into a lower grade silver plated material that is used to make the cups. Remixing cost amount to $10,500. The recent batch contained 21,000 platters and 9,500 cups. TSC sold the platters for $270,000 and the cups for $46,000. If relative market value is used to allocate the joint cost, what is the income earned for cups? (Round intermediate calculation to 2 decimal places.)

 

 
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