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Determine the amount of the total joint cost

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Reference no: EM132760923

Problem - Calf Smile, Inc., produces milk, yogurt, and buttercream. The joint cost of producing these three products is $15,000. At split-off, the quantities of each product are 6,000 gallons of milk, 1,000 gallons of yogurt, and 4,000 gallons of buttercream. The company allocates joint costs based on the mixing speeds needed for each product. The mixing speed for yogurt is 3 times that of milk. The mixing speed of buttercream is 1.5 times that of milk. Determine the amount of the total joint cost to be allocated to each product using the weighted average method.

Reference no: EM132760923

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