Oregon lumber processes timbe joint cost of processin

timer Asked: Mar 15th, 2016

Question description

Oregon lumber processes timber into 4 products. During January the joint cost of processing were $280,000. there was no beginning information at the beginning of the month.  Production and sales information for the month was as follow:

Product(1) = 2 x 4's , Board feet (6,000,000), Sales value of Split off point $.30 per boardfoot, Ending inventory ( 500,000 bdft)

product (2) 2 x 6's boardfeet ( 3,000,000), sales value of splitoff point (.40 per boardfoot) ending inventory (250,000)

product (3) 4x4's boardfeet (2,000,000) sales value at splitoff point (.45 per boardfoot) ending inventory (100,000 bdft)

Product 4= slabs  board feet(1,000,000,) sales valve at split off point (.10 per bdft) ending inventory (50,000 bdft)


Determine the value of ending inventory if the sales value at splitoff method is used for product costing . round to 3 decimal places when necessary

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