GG Products, Inc., prepares tips and stems from a joint process using asparagus. It produced 215,000 units of tips having a sales value at the split-off point of $75,600. It produced 215,000 units of stems having a sales value at split-off of $32,400. Using the net realizable value method, the portion of the total joint product costs allocated to tips was $45,500. Required: Compute the total joint product costs before allocation. (Do not round intermediate calculations.)

The correct answer is $65,000.

Explanation:

According to the scenario, the computation of the given data are as follows:

Total joint product costs of Tip = $45,500

Sales value of tip at split-off = $75,600

NRV of total production = $75,600 +$32,400 = $108,000

So, we can calculate the total joint cost by using following data:

Total joint cost = $45,500 × ($108,000 ÷ $75,600)

= $45,500 × 1.43

= $65,000

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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