The Brital Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the monthof June:Direct Materials processed: 27,500 gallons12,000 gallons15,500 gallons11,500 gallons15,000 gallons$2.00 per gallon$7.00 per gallon$15,000Production:Butter CreamCondensed MilkSales:Butter CreamCondensed MilkSales:Butter CreamCondensed MilkSeparable costs in Butter Creamtotal:Condensed Milk$33,700The costs of purchasing the of unprocessed milk and processing it up to the split - off point to yield a total of 27,500 gallons of saleable product was $70,550.The company uses constant gross - margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Butter Cream?

Working Notes: 1. Working Amount Sales (12,000 gallons * $2 )+ (15,500 gallons * $7 )…

Answered: The Brital Company processes…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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