Using joint-process costing to measure product costs. The following information is for Tiger Company, which manufactures products X, Y, and Z from a joint process. Joint product costs were $63,000. Additional information follows.
If Processed Further
|
Product
|
Units Produced
|
Sales Value at Splitoff
|
Sales Values
|
Additional Costs
|
|
X
|
14,000
|
$80,000
|
$110,000
|
$18,000
|
|
Y
|
10,000
|
70,000
|
90,000
|
14,000
|
|
Z
|
4,000
|
50,000
|
60,000
|
10,000
|
a. Assuming that joint product costs are allocated using the physical quantities method, what were the total costs of product X (including $18,000 if processed further)?
b. Assuming the joint product costs are allocated using the net realizable value method, what were the total costs of product Y (including the $14,000 if processed further)?