Harmon Inc. produces joint products L, M, and N from a joint process. Informatio

Question

Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $75,000 was as follows: L M N Total Separable Processing cost $10,000 $25,000 $2,000 $37,000 Units Produced 1,200 2,500 4,300 8,000 Sales Value (after addt’l processing) $60,000 $50,000 $7,000 $117,000 The amount of joint costs allocated to product M using the physical measure method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): $23,438. $33,434. $40.$31.3 $27.109 .$11.250

Explanation / Answer

$23,438. Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Product Units Produced L                    1,200.00 M                    2,500.00 N                    4,300.00 Total Units produced                    8,000.00 Joint Costs                  75,000.00 The amount of joint costs allocated to product M = 2500/8000*75000                  23,437.50

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