first, compute cost of goods manufactured. schedule of cost of goods manufactured beginning work-in-process inventory 38000 direct materials used: beginning direct materials 28000 purchases of direct materials 7 direct materials available for use 98000 ending direct materials (33000) direct materials used 65000 direct labor 8 manufacturing overhead 38000 total manufacturing costs incurred during the year 183000 total manufacturing costs to account for 145000 ▼ cost of goods manufactured

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Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (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. (c) allocate the joint product cost among the three final products using weight as the allocation base.