“Joint Products, Inc.” Joint Products Inc, produces two joint products X, and V using a common inp
Question: “Joint Products, Inc.”
Joint Products Inc, produces two joint products X, and V using a common input. These are produced in batches. The common input costs $8000 per batch. To produce the final products (X and V) additional processing costs beyond the split off point must be incurred. There are no beginning inventories. The accompanying data summarize the operations.
PRODUCTS
X V
Quantities produced per batch 200 lbs 400 lbs
Additional processing costs per batch
Beyond split off $1,800 $3,400
Unit Selling prices of completely
Processed products $40/lb $10/lb
Ending Inventory 2,000lbs 1,000lbs
a. Compute the full cost of the ending inventory using net realizable value to allocate joint cost.
b. If the selling prices at the split off point before further processing are $35 and $1 per pound of X and V respectively what should the firm do regarding further processing?
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Deliverable: Word Document
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