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Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process
Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows: If Processed Further Product W-10 W-20 W-30 W-40 Units Produced 56,000 40,000 32,000 32.000 160,000 Sales Value at Split-Off $336,000 288,000 192.000 144.000 $960,000 Additional Costs $36,000 28.800 19.200 12.000 $96,000 Sales Values $ 366.000 336,000 240.000 160.000 $ 1,102,000 Required: Assuming that total joint costs of $240,000 were allocated using the physical quantities method, what joint costs were allocated to each product? (Do not round intermediate calculations.) Product Joint Costs Allocated W-10 W-20 W-30 W-40
Expert Solution
Allocation of joint costs using the physical quantities method is as follows:
| Product |
Working |
Joint Costs Allocated |
| W-10 | ($240,000 x 56,000 / 160,000) | $84,000 |
| W-20 | ($240,000 x 40,000 / 160,000) | $60,000 |
| W-30 | ($240,000 x 32,000 / 160,000) | $48,000 |
| W-20 | ($240,000 x 32,000 / 160,000) | $48,000 |
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