6 California Orchards reports the following sales data for the year ended December 31.Grade of WalnutsNumber 1Number 2Number 3TotalSales$ 490, 500381, 500218,000$ 1,090,000The company incurred the following joint costs for the year.Tree pruning and carePickup, sorting, and grading$ 708,500141, 700Required:1. Use the value basis to allocate joint costs to the three grades of walnuts on the basis of sales value.TotalsAllocation of joint costs on the basis of sales values.Allocation BaseGradeNumbersNumber 1Number 2Number 3Percent of Allocation BaseNumerator Denominator% of Totalx Indirect Cost Allocated Cost

In case there are joint costs than they are allocated on the some basis that may be volume of sales…

California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts Number 1 Number 2 Number 3 Total Sales $ 490, 500 381, 500 218,000 $ 1,090,000 The company incurred the following joint costs for the year. Tree pruning and care $ 708,500 Pickup, sorting, and grading 141, 700

California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts Number 1 Number 2 Number 3 Total Sales $ 490, 500 381, 500 218,000 $ 1,090,000 The company incurred the following joint costs for the year. Tree pruning and care $ 708,500 Pickup, sorting, and grading 141, 700

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter2: Basic Managerial Accounting Concepts

Section: Chapter Questions

Problem 15MCQ: Use the following information for Multiple- Choice Questions 2-13 through 2-18: Last year, Barnard...

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