Bramble & Sons produces tomato juice and tomato puree from fresh tomatoes grown by local farmers. The company purchases large crates of tomatoes and then washes, sorts, scalds, peels, and crushes them, at which point the juice and the pulp are separately identifiable. Bramble currently processes the pulp further to transform it into his great-great-grandmother's secret- recipe spaghetti sauce. The specifics on each of these products for one month are as follows. Joint processing costs Quantity of tomato juice produced Value of tomato juice Quantity of tomato puree produced Additional cost to make spaghetti sauce Final sales value of spaghetti sauce $162,000 7,000 gallons $6 per gallon 16,000 pounds $21,000 $218,000

Business Its Legal Ethical & Global Environment
10th Edition
ISBN:9781305224414
Author:JENNINGS
Publisher:JENNINGS
Chapter5: Business And The Constitution
Section: Chapter Questions
Problem 4QAP
icon
Related questions
icon
Concept explainers
Question
Bramble & Sons produces tomato juice and tomato puree from fresh tomatoes grown by local
farmers. The company purchases large crates of tomatoes and then washes, sorts, scalds, peels,
and crushes them, at which point the juice and the pulp are separately identifiable. Bramble
currently processes the pulp further to transform it into his great-great-grandmother's secret-
recipe spaghetti sauce. The specifics on each of these products for one month are as follows.
Burs
Joint processing costs
Quantity of tomato juice produced
Value of tomato juice
Quantity of tomato puree produced
Additional cost to make spaghetti sauce
Final sales value of spaghetti sauce
$162,000
7.000 gallons
Alay!
$6 per gallon
16,000 pounds
$21.000
$218,000
Transcribed Image Text:Bramble & Sons produces tomato juice and tomato puree from fresh tomatoes grown by local farmers. The company purchases large crates of tomatoes and then washes, sorts, scalds, peels, and crushes them, at which point the juice and the pulp are separately identifiable. Bramble currently processes the pulp further to transform it into his great-great-grandmother's secret- recipe spaghetti sauce. The specifics on each of these products for one month are as follows. Burs Joint processing costs Quantity of tomato juice produced Value of tomato juice Quantity of tomato puree produced Additional cost to make spaghetti sauce Final sales value of spaghetti sauce $162,000 7.000 gallons Alay! $6 per gallon 16,000 pounds $21.000 $218,000
Using the NRV method for allocating joint costs, specify how much joint cost will be allocated
to the juice and to the puree/spaghetti sauce. (Round proportion to 4 decimal places, e.g. 0.2516
and final answers to 2 decimal places, e.g. 15.25.)
Allocated joint costs $
Juice
h
LA
Puree/Sauce
Transcribed Image Text:Using the NRV method for allocating joint costs, specify how much joint cost will be allocated to the juice and to the puree/spaghetti sauce. (Round proportion to 4 decimal places, e.g. 0.2516 and final answers to 2 decimal places, e.g. 15.25.) Allocated joint costs $ Juice h LA Puree/Sauce
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Budgeting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Business Its Legal Ethical & Global Environment
Business Its Legal Ethical & Global Environment
Accounting
ISBN:
9781305224414
Author:
JENNINGS
Publisher:
Cengage