Macon farms raises peaches that at harvest are separated

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Reference no: EM13575278

Macon Farms raises peaches that, at harvest, are separated into three grades: premium, good, and fair. Joint cost is allocated to products based on bushels of output. The $337,500 joint cost for one harvest yielded the following output quantities.

Product Output in Bushels
Premium 14,520
Good 38,940
Fair 12,540

The joint process also created a by-product that had a total net realizable value of $45,000. The company records the by-product inventory at the time of production. Allocate the joint cost to the joint products using bushels of output. Round proportion answers to two decimal places.

Reference no: EM13575278

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