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dxpayne dxpayne
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Posts: 930
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6 years ago
Assuming Cranbrook uses the sales value at splitoff method and 2,000 containers of Jarlon and 75 containers of Kharton are unsold at the end of the period, Cranbrook would report ending inventory of
A) $38,272.
B) $56,598.
C) $53,560.
D) $79,240.
E) $58,100.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
Authors:
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#1
6 years ago
C
Explanation:  C) Jarlon sales value at splitoff = 16,000 @ $38 = $608,000
Kharton sales value at splitoff = 4,000 @ $58 = $232,000
J = 608/[608 + 232] = 72.38%; K = 232/[608 + 232] = 27.62%
Joint costs allocated are $405,328 and $154,672 for J and K respectively
Unit costs are $405,328/16,000 = $25.33 for J
Units costs are $154,672/4,000 = $38.67 for K
Ending inventory = [$25.33 * 2,000] + [$38.67 * 75] = $50,660 + $2,900 = $53,560
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