Oregon Lumber Processes Timber into Four Products

question 64

Essay

Oregon Lumber processes timber into four products.During January,the joint costs of processing were $280,000.There was no inventory at the beginning of the month.Production and sales value information for the month is as follows:

Required:
Determine the value of ending inventory if the sales value at split-off method is used for product costing.Round to 3 decimal places when necessary.

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Definitions:

Tertiary Prevention

Efforts to reduce the impact of an ongoing illness or injury that has lasting effects.

Primary Prevention

A type of prevention practised prior to the biological origin of the disease (for example, immunization). See also secondary prevention and tertiary prevention.

Secondary Prevention

A type of prevention practised after the disease is identified but before it has caused suffering and disability (for example, the control of blood sugar early in the course of diabetes to prevent systemic damage). See also primary prevention and tertiary prevention.

Tertiary Programs

Educational or treatment programs designed to offer specialized and advanced learning or care options, often after primary and secondary options have been exhausted.