Problem:
Keiffer Production manufactures three joint products in a single process. The following information is available for August 2010:
Product Gallons SalesValueatSlit-OffperGallon CostafterSplit-Off Final Selling Price
JP-4539 4,500 $14 $4 $24
JP-4587 18,000 8 5 15
JP-4591 13,500 18 2 22
Allocate the joint cost of $558,000 to the production based on the
a. Number of gallons
b. Sales value at split-off.
c. Approximated net realizable values at split-off.
(Round all percentages to the nearest whole percentage.)