(Click the icon to view the production and selling price information.) Required Allocate the $325,000 joint costs using the NRV method (Round the weightings to two decimal places) Final sales value of total production Deduct separable costs NRV at splitoff point Com Syrup Cornstarch Total Production and selling price information I Joint costs (costs of processing corn to splitoff point) Com Syrup Cornstarch Join Separable cost of processing beyond splitoff point S Beginning inventory (cases) Production and sales (cases) Ending inventory (cases) Selling price per case 404.910 S 12.100 0 53 107.590 0 6,600 0 S

(Click the icon to view the production and selling price information.) Required Allocate the $325,000 joint costs using the NRV method (Round the weightings to two decimal places) Final sales value of total production Deduct separable costs NRV at splitoff point Com Syrup Cornstarch Total Production and selling price information I Joint costs (costs of processing corn to splitoff point) Com Syrup Cornstarch Join Separable cost of processing beyond splitoff point S Beginning inventory (cases) Production and sales (cases) Ending inventory (cases) Selling price per case 404.910 S 12.100 0 53 107.590 0 6,600 0 S

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter25: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 4CMA: Oakes Inc. manufactured 40,000 gallons of Mononate and 60,000 gallons of Beracyl in a joint...

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The XYZ Corp. manufactures pots, pans, and bowls from a joint process. May production is 4,000 pots, 7,000 pans, and 8,000 bowls. Respective per unit selling prices at split-off are $15, $10, $5. Joint costs up to the split-off point are $75,000. If joint costs are allocated based upon the sales (market) value at split-off, what amount of joint costs will be allocated to the pots?
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Backer Company manufactures products Katran and Klare from a joint process. Product Katran has been allocated P7,500 of total joint costs of P30,000 for the 1,500 units produced. Katran can be sold at the splitoff point for P4 per unit, or it can be processed further with additional costs of P2,000 and sold for P7 per unit. If Katran is processed further and sold, the result would be A. a gain of P1,000 from further processing. B. a loss of P2,500 from further processing C. an overall loss of P1,500 D. a gain of P2,500 from further processing
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Corey Corporation manufactures joint products W and X. During a recent period, joint costs amounted to $320,000 in the production of 25,000 gallons of W and 60,000 gallons of X. Both products will be processed beyond the split-off point, giving rise to the following data: W X Separable processing costs $ 45,000 $ 150,000 Sales price (per gallon) if processed beyond split-off $ 15 $ 13 What would be the joint cost allocated to X under the net-realizable-value method ? Note: Do not round intermediate calculations.
Stahl Inc. produces three separate products from a common process costing $100,800. Each of the products can be sold at the split-off point or can be processed further and then sold for a higher price. Shown below are cost and selling price data for a recent period. Sales Valueat Split-OffPoint Cost toProcessFurther Sales Valueafter FurtherProcessing Product 10 $60,400 $100,600 $190,000 Product 12 15,600 30,100 35,400 Product 14 55,500 150,800 214,500 Determine total net income if all products are sold at the split-off point. Net income $ eTextbook and Media Determine total net income if all products are sold after further processing. Net income $ eTextbook and Media Calculate incremental profit/(loss) and determine which products should be…
Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $169,000. The sales value at split- off was $175,680 for 8.800 units of Kappa and $63,280 for 13,200 units of Lambda. Required: a. What joint costs are allocated to the two products using the net realizable value at split-off approach? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts. b. What joint costs are allocated to the two products using the physical quantities method? Note: Do not round intermediate calculations. a. Net realizable value method b. Physical quantities method Kappa Lambda
Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $168,000. The sales value at split-off was $174,960 for 8,400 units of Kappa and $63,280 for 12,600 units of Lambda. Required: What joint costs are allocated to the two products using the net realizable value at split-off approach? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts. What joint costs are allocated to the two products using the physical quantities method? Note: Do not round intermediate calculations. Kappa Lambda a. Net realizable value method ??? ??? b. Physical quantities method ??? ???
Megan Company produces 2 products, X and Y, from the same production process with joint product costs of $360,000 per month. The 2 products can be sold at the split-off point or processed further and then sold. Separable production costs are incurred for each product after the split-off point. The firm has always processed both products further to maximize the revenue involved. All joint costs are allocated to the 2 products on the basis of their relative sales value. Unit selling prices and total monthly production at the split-off point are: Product Monthly Production Selling Price X 15,000 pounds $16 per pound Y 20,000 pounds $ 8 per pound The additional processing costs and selling prices after the split-off point are: Product Additional Processing Costs Selling Price X $90,000 $20 per pound Y $100,000 $15 per pound A summarized version of the company’s operating performance for the past month shows the following”…
QUIK Manufacturing Company Ltd produces two products from a joint process. Informationabout the two joint products is as follows:Information Product A Product BBudgeted production (in kg) 2 000 4 000Selling price per kg at split-off $ 10 $ 20Additional processing costs per kgafter split-off (all variable)$ 15 $ 30Selling price per kg after furtherprocessing$40 $50The cost of the joint process is $ 90 000.Required:a) Which of QUIK company’s joint products should be sold at split-off point? Please supportyour answer with the necessary calculations. b) Which of QUIK company’s joint products should be processed further? please answer the same with working allocations
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