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What is the approximate amount of joint costs

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Question - Netzone Company is in semiconductor industry and fabrication of silicon-wafer chips splits off two types of memory chips, Standard and Premium. The following information was collected for last quarter of the calendar year:

Direct materials processed: 400 kgs (Both standard and premium chips weigh 10 grams each)

Production: Standard 10,000 chips

Premium 6,800 chips

Sales: Standard 9,700 at $110 per chip

Premium 6,200 at $180 per chip

The cost of purchasing 400 kgs of direct materials and processing it up to the splitoff point to yield a total of 16,500 chips of good products was $1,950,000.

Beginning inventories totalled 140 chips for Standard and 90 chips for Premium. Ending inventory amounts reflected 140 chips of Standard and 90 chips of Premium. October costs per unit were the same as November.

Required - When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated standard chips?

A) $975,000

B) $1,226,415

C) $1,160,640

D) $1,189,623

Reference no: EM133187675

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