BC Lumber processes timber into four products.During January the joint costs of processing were $280,000.There was no beginning inventory at the beginning of the month.Production and sales value information for the month were as follows:
Sales Value at
Required:
Determine the value of ending inventory if the sales value at splitoff method is used for product costing.Round to 3 decimal places when necessary.
Definitions:
Q9: Harry's Electronics manufactures electronic parts.Data for two
Q20: The weighted-average process costing method distinguishes between
Q36: Operation-costing captures the non-financial impact of the
Q38: Assigning joint costs when only a portion
Q44: What is the Barry Company's cost effect
Q69: The incremental revenue-allocation method uses product specific
Q89: Explain the difference between a joint product
Q93: What is the Luke Company's revenue effect
Q111: The cost of units completed can differ
Q130: Customer-specific costs are costs that are traceable