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What are the ending inventory values for each joint product

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Assume Quality Chicken uses the production method of accounting for byproducts. What are the ending inventory values for each joint product on July 31, 2009, assuming breasts and thighs are the joint products and wings, bones, and feathers are byproducts?

Breast

Wings

Thighs

Bones

Feathers

Total

Pounds of product

200

40

80

160

20

500

Wholesale selling price





per pound

$0.40

$0.25

$0.35

$0.10

$0.05

Sales value at splitoff

$80.00

$10.00

$28.00

$16.00

$1.00

$135.00

Weighting: Sales Value





at splitoff

0.593

0.074

0.207

0.119

0.007

1

Joint costs allocated

$59.30

$7.40

$20.70

$11.90

$0.70

$100.00

Allocated costs





per pound

$0.30

$0.19

$0.26

$0.07

$0.04

Reference no: EM13583642

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