The cost of Product E sold for the year ended July 31,2021 is:d. P1,350,000b. P1,440,000c. P990,000a. P1,470,000The cost of ending inventory for Product D is:c. P180,000b. PP225,000a. P270,000d. P540,000The Gross Profit (Loss) of Product F is:b. P101,250c. P1,226,250d. P(483,750)a. P168,750 16. Ethel Company buys Article G for P0.80 per unit. At the end of processing inDepartment 1, Article G split into producing D, E and F. Product D is sold at split-off with no further processing. E and F require further processing before they canbe sold. E is processed in department 2; and F is processed in Department 3. Thefollowing is a summary of costs and other related data for the year ended July 31,2021.Department 2Cost of Article G3Department 1DepartmentDirect MaterialsP1,440,000Direct Labor210,000P675,000P975,000Factory Overhead150,000315,000735,000Product DProduct EProduct FUnit sold300,000450,000675,000Units on hand-7/30150,000225,000SalesP450,000P1,440,000P2,126,25Ethel uses the estimated net realizable value method to allocate the joint cost.

The cost of Product E sold for the year ended July 31,2021 is: d. P1,350,000 b. P1,440,000 c. P990,000 a. P1,470,000 The cost of ending inventory for Product D is: c. P180,000 b. PP225,000 a. P270,000 d. P540,000 The Gross Profit (Loss) of Product F is: b. P101,250 c. P1,226,250 d. P(483,750) a. P168,750

The cost of Product E sold for the year ended July 31,2021 is: d. P1,350,000 b. P1,440,000 c. P990,000 a. P1,470,000 The cost of ending inventory for Product D is: c. P180,000 b. PP225,000 a. P270,000 d. P540,000 The Gross Profit (Loss) of Product F is: b. P101,250 c. P1,226,250 d. P(483,750) a. P168,750

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 16E: Espana Co. makes one main product, Uno, and a by-product, Dos, which splits off from the main...

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