What are the ending inventory values for each joint product

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Reference no: EM13583642

Assume Quality Chicken uses the production method of accounting for byproducts. What are the ending inventory values for each joint product on July 31, 2009, assuming breasts and thighs are the joint products and wings, bones, and feathers are byproducts?

	Breast	Wings	Thighs	Bones	Feathers	Total
Pounds of product	200	40	80	160	20	500
Wholesale selling price
per pound	$0.40	$0.25	$0.35	$0.10	$0.05
Sales value at splitoff	$80.00	$10.00	$28.00	$16.00	$1.00	$135.00
Weighting: Sales Value
at splitoff	0.593	0.074	0.207	0.119	0.007	1
Joint costs allocated	$59.30	$7.40	$20.70	$11.90	$0.70	$100.00
Allocated costs
per pound	$0.30	$0.19	$0.26	$0.07	$0.04

Reference no: EM13583642

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