Question Details

(Solution Download) Chen Minerals processes materials extracted from mines. The most common raw material that it process


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chen Minerals processes materials extracted from mines. The

 

most common raw material that it processes results in three joint

 

products: Larco, Marco, and Narco. Each of these products can be

 

sold as is, or each can be processed further and sold for a higher

 

price. The company incurs joint costs of $180,000 to process one

 

batch of the raw material that produces the three joint products.

 

The following cost and sales information is available for one batch

 

of each product.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales Value at

 

Split-Off Point

Allocated

 

Joint Costs

Cost to

 

Process Further

Sales Value of

 

Processed Product

Larco$200,000$40,000$110,000$300,000
Marco300,00060,00085,000400,000
Narco405,00080,000250,000800,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Determine the incremental profit or loss that each of the three

 

joint products. (Enter negative amounts using either a

 

negative sign preceding the number e.g. -45 or parentheses e.g.

 

(45).)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LarcoMarcoNarco
Incremental profit (loss)$$$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LINK TO TEXT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indicate whether each of the three joint products should be

 

sold as is, or processed further.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Larco Sold

 

as isProcessed further

Marco Sold

 

as isProcessed further

Narco Sold

 

as isProcessed further

 

 

 

 


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