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Xelga [282]
3 years ago
12

Cheyenne Enterprises manufactures Nuts and Bolts from a joint process (cost = $90,000). Five thousand pounds of Nuts can be sold

at split-off for $20 per pound; ten thousand pounds of Bolts can be sold at split-off for $15 per pound. For product costing purposes Cheyenne allocates joint costs using the relative sales value method. The amount of joint cost allocated to Nuts would be:
Business
1 answer:
Klio2033 [76]3 years ago
6 0

Answer:

$36,000

Explanation:

Joint process cost =$85000

Allocation of Joint cost using relative sales value method:-

Sales value of Nuts = 5,000 pounds × $20 per pound

                                = $100,000

Sales value of Bolts = 10,000 pounds × $15 per pound

                                 = $150,000

Total sales value = $100,000 + $150,000

                             = $250,000

Joint cost allocate to Nuts:

= (Total Joint cost ÷ Total relative sales value) × Sales value of Nuts

= ($90,000 ÷ $250,000) × $100,000

= $36,000

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