Red Sauce Canning Company Processes Tomatoes into Catsup,tomato Juice,and Canned

question 1

Essay

Red Sauce Canning Company processes tomatoes into catsup,tomato juice,and canned tomatoes.During the summer of 2017,the joint costs of processing the tomatoes were $420,000.There was no beginning or ending inventories for the summer.Production and sales value information for the summer is as follows:

Required:
Determine the amount allocated to each product if the estimated net realizable value method is used,and compute the cost per case for each product.

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Definitions:

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A short-term government security issued at a discount from the par value and pays no interest, maturing in a year or less.

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Long-term government debt securities with a fixed interest rate and maturity of more than 10 years.

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A period of time that is relatively brief, usually focusing on immediate or near-future events or goals, often contrasted with long-term perspectives.

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