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

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):

Multiple Choice

  • $33,434.

  • $27,109.

  • $11,250.

  • $23,438.

  • $40,313.

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Answer #1
Ans. Option 4th $23,438
Products Units produced Percentage of allocation (a) Joint Cost (b) Allocated cost (a*b)
Product L $1,200 15.0000% $75,000 $11,250
Product M $2,500 31.2500% $75,000 $23,438
Product N $4,300 53.7500% $75,000 $40,313
Total $8,000 $75,000
*Percentage of allocation = Units produced by particular product / Total Units produced * 100
*Allocated cost = Percentage of allocation * Joint cost
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