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 >
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 & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter27: Lean Principles, Lean Accounting, And Activity Analysis
Section: Chapter Questions
Problem 27.20EX
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