Author Question: The Kenton Company processes unprocessed milk to produce two products, Butter Cream and Condensed ... (Read 23 times)

imanialler · **on:** Mar 6, 2021

The Kenton Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June:
Direct Materials processed: 24,500 gallons (after shrinkage)

Production:	Butter Cream	12,000	gallons
	Condensed Milk	12,500	gallons
Sales:	Butter Cream	11,500	gallons
	Condensed Milk	12,000	gallons
Sales Price:	Butter Cream	$3.50	per gallon
	Condensed Milk	$7.50	per gallon
Separable costs in total:	Butter Cream	$14,000
	Condensed Milk	$34,700

The cost of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 24,500 gallons of saleable product was $55,000.

The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the constant gross-margin percent for Kenton?
◦ 64.1%
◦ 20.4%
◦ 23.6%
◦ 62.6%

chjcharjto14 · **Reply #1 on:** Mar 6, 2021

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