Determine the value of ending inventory

Reference no: EM13787236

Sherlock company 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 (bdft = board foot):

		Sales Value at
Product	Board feet	Splitoff Point	Ending Inventory
2 x 4's	6,000,000	$0.30 per board foot	500,000 bdft.
2 x 6's	3,000,000	0.40 per board foot	250,000 bdft.
4 x 4's	2,000,000	0.45 per board foot	100,000 bdft.
Slabs	1,000,000	0.10 per board foot	50,000 bdft.

Required:

Determine the value of ending inventory if the sales value at splitoff method is used for product costing. Record your answers in the Tables below. You do not have to show your work (calculations). Fill-in all of the cells below but not the cells noted with "xxxxxxx." Round to 3 decimal places when necessary and you can omit $ signs.

Reference no: EM13787236

Questions Cloud

Fixed overhead and variable overhead variances : Compute the fixed overhead and variable overhead variances. Compute a total of four variances.

What legal options does frank oldburr have : What is Discrimina Inc.'s legal responsibility to provide health insurance to employees? What legal options does Frank Oldburr have to get himself covered with a health plan

Identify experiences that will help you prepare for career : Identify experiences that will help you prepare for your career. Then write an essay in which you use cause-effect reasoning to prove your claim.

About new employee orientation : New Employee Orientation.

Determine the value of ending inventory : Determine the value of ending inventory if the sales value at splitoff method is used for product costing.

Entrepreneurs tend to overestimate market potential : What three steps or techniques would you recommend a new entrepreneur take so that market overestimation doesn't occur?

Could ayrault sue the car manufacturer : Ayrault was driving her car to the family doctor for an appointment. When she stopped for a red light the car behind her "rear-ended" her car. Could Ayrault sue the car manufacturer

Explain the theory of production : Explain the theory of production, Managerial Economics - Explain the Theory of Production

Differentiate between civil courts and public courts : Differentiate between civil courts and public courts

User Account

All Pages