Top Posters
Since Sunday
e
4
h
4
h
4
m
3
d
3
B
3
o
3
w
3
H
3
a
3
c
3
k
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
pduvin pduvin
wrote...
Go to Answer
Posts: 679
Rep: 0 0
6 years ago
BC Lumber processes timber into four products. During January the joint costs of processing were $280,000. There was no beginning inventory at the beginning of the month. Production and sales value information for the month were as follows:
Sales Value at

Product    Boardmetres   splitoff Point   Ending Inventory
2 × 4's   6,000,000   $0.30 per boardmetre   500,000 boardmetre
2 × 6's   3,000,000   0.40 per boardmetre   250,000 boardmetre
4 × 4's   2,000,000   0.45 per boardmetre   100,000 boardmetre
slabs   1,000,000   0.10 per boardmetre    50,000 boardmetre

Required:
Determine the value of ending inventory if the sales value at splitoff method is used for product costing. Round to 3 decimal places when necessary.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
Authors:
Read 71 times
1 Reply
Replies
Answer verified by a subject expert
btpsandbtpsand
wrote...
#1
Top Poster
Posts: 1199
Rep: 31 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 160 words.
1

Related Topics

pduvin Author
wrote...

6 years ago
Good timing, thanks!
aznzergs
wrote...

Yesterday
You make an excellent tutor!
Loruiz15
wrote...

2 hours ago
Smart ... Thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  955 People Browsing
 130 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 138
  
 1121
  
 448
Your Opinion
Who will win the 2024 president election?
Votes: 45
Closes: November 4
Previous poll results: Should Ph.D.'s be addressed as doctors?