Company makes two products from a joint production process. Each product may be sold at the split-off point or processed further. Information concerning these products for last year appears below:
Product X Product Y
- Allocated joint costs .................... $25,000 $18,000
- Sales value after further processing ..... $47,000 $41,000
- Sales value at the split-off point ....... $28,000 $23,000
- Additional processing costs .............. $16,000 $19,000
Assume Bowen Company makes all the correct sell or process further decisions.
Calculate the net income reported by Bowen Company last year. Do not use decimals in your answ