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Find what is amount as joint product cost to be allocated

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Reference no: EM132548819

Walker, Inc., is a large food-processing company. It processes 150,000 kilograms of peanuts in the peanuts department at a cost of $180,000 to yield 12,000 kilograms of product A, 65,000 kilograms of product B, and 16,000 kilograms of product C.

  1. Product A is processed futher in the salting department to yield 12,000 kilograms of salted peanuts at a cost of $27,000 and is sold for $12 per kilogram.
  2. Product B (raw peanuts) is sold without further processing at $3 per kilogram.
  3. Product C is considered a byproduct and is processed futher in the paste department to yield 16,000 kilograms of peanut butter at a cost of $12,000 and sold for $6 per kilogram.

Question 1: What is the amount as joint product cost to be allocated to the joint products if Walker, Inc., allocates joint costs to joint products based on approximate net realizable value at the split off point (approx. NRV) and it records the byproduct's net realizable value (NRV) as a reduction to the joint cost.

Reference no: EM132548819

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