## Question

###### Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the...

Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 150,000 pounds of raw materials, the company generates 35,000 pounds of B7, 75,000 pounds of K6, and 40,000 pounds of X9. A standard batch costs $600,000 to produce. The sales prices per pound are $6, $10, and $16 for B7, K6, and X9, respectively. Required a. Allocate the joint product cost among the three final products using weight as the allocation base. b. Allocate the joint product cost among the three final products using market value as the allocation base. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Allocate the joint product cost among the three final products using market value as the allocation base. (Round "Allocation rate" to 3 decimal places.) Product Allocation Rate X Weight of Base Allocated Cost S 0 B7 X Кв X = 0 X9 X х 0 Total allocated cost $ 0

## Answers

Working Note: calculation of total market value

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Allocation rate based on weight= = total cost/total weight = $600,000/150,000 pounds = $4 per pound Joint Product Cost Allocation Weight of Allocated Product Rate Base Cost B7 $4 35000 $140,000 K6 $4 75000 $300,000 X9 40000 $160,000 Total Allocated cost $600,000 * $4/* Joint Product Cost Allocation Weight of Allocated Product Rate Base Cost B7 $0.375 $210,000 $78,750 K6 |$0.375 $750,000 $281,250 |X9 $0.375 $640,000 $240,000 Total Allocated cost $600,000 * Allocationrate based on market value= = total cost/total market value = $600,000/$1,600,000 = $0.375/1$ of market valueSales Price Quantity Market Value $6 35000 $210,000 $10 75000 $750,000 $16 40000 $640,000 Total $1,600,000

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