Which product should be processed further to maximize profit?
Q: Nogueiras Corp's budgeted monthly sales are P5,000, and they are constant from month to month. 40%…
A: Cash Budget: It is an estimation of cash receipts and payments over a forecast period. It could be…
Q: Furthermore, the auditor is expected to perform the following (choose all the items that apply to…
A: In making a decision whether to accept or reject an engagement, An auditor should consider…
Q: The following transactions and adjusting entries were completed by a paper-packaging company called…
A: Journal entry is the primary step to record the transaction in the books of accounts. Depreciation…
Q: Presented below are a number of balance sheet items for Tamarisk, Inc. for the current year, 2020.…
A: Preparation of balancesheet are as follows
Q: Explain how annual gifts to his children will reduce both his income during lifetime and estate tax…
A: Answer to the above question please fallow: It will reduce both his income during lifetime and his…
Q: Vaughn Industries has the following overhead costs and cost drivers. Direct labor hours are…
A: Activity-based costing is a method of allocating overheads like salary rent and utility to the cost…
Q: 5. The materials purchasing manager purchased 11,000 units of component K2X from a new source at a…
A: Lets understand the basics. Material price variance is a variance between the rate at which material…
Q: The following balances appeared in the general ledger of Vice Traders on 30 June 20.2: R 60 000 270…
A: INCOME STATEMENT Income statement is one of the important financial statements of the Company.…
Q: w step by step solution: Cost-volume-profit analysis. PJ Company produces one type of sunglasses…
A: Selling price per unit is sales revenue upon Total Quantity Sold Variable cost per unit is Total…
Q: The city of Toronto has $8.4 billion in assessed value of property. The city collected $51.66…
A: ANSWER $51.66 million in total tax collection during the previous year indicates a mill rate of…
Q: ABC Company disposed of two different assets. On January 1, prior to their disposal, the accounts…
A: Introduction: A journal entry is a business transaction that is recorded in a company's accounting…
Q: The accounting records of Omar Corporation contained the following information for last year:…
A: Direct materials are those materials that are used in order to produce the final products. These…
Q: Armando Hernandez Fashions, Inc. sponsors a defined-benefit pension plan for its employees. The…
A: Calculation of Ending Balance of PBO Particulars Amount ($) Opening Balance of PBO 678,000…
Q: On July 1, Novak Corporation purchases 570 shares of its $5 par value common stock for the treasury…
A: The question is based on the concept of Financial Accounting. When the company buyback its own…
Q: the suspense figure. Prepare the Income Statement for the year ended 31st December, 2020 and a…
A: Redrafted trail balance as below fallow the attachment There is difference in trail balance…
Q: Ravelo Corporation has provided the following data from its activity-based costing system: Activity…
A: The question is based on the concept of Cost Accounting.
Q: Which of the following statements are true? 1. If the activity level increases, then one would…
A: Total fixed cost remains the same at every level of activity within the relevant range. Total fixed…
Q: a. You purchased a new issue GE Corp bond. The bond has a face value of $100, coupon interest rate…
A: The bond that has a coupon rate than the market interest rate is issued at a premium because the…
Q: Directions: Please prepare journal entries for all transactions starting with March 1. Peaceful…
A: Journal entries are those which are reported in the books in order to prepare a day to day record of…
Q: On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 120…
A: If Stock split does not effect in form of stock dividend then their is no requirement for journal…
Q: Langga Company provided the following information for the current year: Beginning inventory 400 000…
A: Gross purchase is the entire purchases that have been made in a business. Freight in is the amount…
Q: All blanks need to be filled please and thank you, it's incomplete as of now.
A: Lets understand the basics. In FOB shipping point, all cost incurred after goods shipped from the…
Q: Accounts payable Accounts receivable CAPITAL NORTHEAST CORPORATION POST-CLOSING TRIAL BALANCE…
A:
Q: Mozzie Ltd has a functional currency of A$. On 1 April 2023, Mozzie Ltd sells goods to a customer on…
A: Solution: Correct answer : (a) DR Account Receivable $130,000 CR…
Q: Garza Corporation has two production departments, Casting and Customizing. The company uses a…
A: The question is based on the concept of Cost Accounting.
Q: Sales Inventories at 1 July 2021 Raw materials Work in process Finished goods Inventories at 30 June…
A:
Q: Roland Company's trial balance reflected the following account balances at December 31, 2021:…
A: Current assets are those asset which generally can be converted to cash in a year's time.
Q: Question 5 Journalize the following business transactions in general journal form. 1. Stockholders…
A: General Journal :— It is an act of recording transaction in books of account when transactions is…
Q: Using the following information, calculate the RAROC. •Risk-Adjusted Return: $80,000 •Loan…
A: The question is based on the concept of Financial Accounting. RAROC is calculated by dividing the…
Q: Morganton Company makes one product and it provided the following information to help prepare the…
A: Estimated total selling and administrative expenses are those expenses which are incurred for…
Q: HomeLife Life Insurance Company has two service departments (actuarial and premium rating) and two…
A: The total cost is the cost that is actually incurred by the company. The total cost is allocated to…
Q: why it is necessary to monitor cost per product or unit operating cost in order to determine the…
A: Profitability is essential for a successful firm. The cost per unit seems to be an important…
Q: On its 2020 Balance Sheet, Liddle Inc. reported Currents Assets of $215,000, Net Fixed Assets of…
A: The taxes are the charge over the profit or income of the firm earned during the tax year. The…
Q: MARIE AND RAMESH FORM ROUNDTREE CORPORATION WITH THE TRANSFER OF THE FOLLOWING. MARIE PERFORMS…
A: Introduction: The Fair Market Value (FMV) is the current price that an interested buyer in the open…
Q: Darlentina Company provided the following information for the current year: Income from continuing…
A: It is given that: Income from continuing operations 4,000,000 Income from…
Q: Singal Inc. is preparing its cash budget. It expects to have sales of P30, 000 in January, P35, 000…
A: Computation of expected cash receipts March 20% of sales in march ( because of only 20% of sales in…
Q: State one difference between the Queens Warehouse, a Private Bonded Warehouse and Public Bonded…
A: A warehouse seems to be a big structure that stores raw materials or produced items until they have…
Q: Quantity 9,900 Revenue $ 1,615,000 Variable manufacturing cost 947,925 Variable Selling,…
A:
Q: The following cost data relate to the manufacturing activities of Black Company during the just…
A: Cost of goods manufactured means the cost incurred on the making of the goods. It is determined by…
Q: Sheffield Company had the following department information for the month: Total materials costs…
A: Material Cost Per Unit :— It is calculated by dividing material cost by units produced.…
Q: Requirement: Prepare a statement of cash flows for ABC Co. for 2022, using the indirect method. (20…
A:
Q: The October transactions were as follows: Oct. 5 Received $800 cash from customers on account. 10…
A: JOURNAL ENTRY Journal entry is the Techniques of Recording initial Transaction in a Proper…
Q: Chapter 12 Accounting for Partnerships and Limited Liability Companies 2-3 Dividing partnership…
A: Distribution Of Income between Partners in partnership :— Income is distributed between according to…
Q: Morganton Company makes one product and it provided the following information to help prepare the…
A: calculation of cost of raw material to be purchase for july
Q: 1. Compute Bigley's fixed asset turnover ratio for 2016, 2017, and 2018. 2. During 2018, Papaya…
A: FIXED ASSETS TURN OVER RATIO Fixer Assets Turnover ratio indicates the investment in Fixed…
Q: The following information relates to the operations of Branded Ltd. The net profit after tax was…
A: Dividend represents the distribution of profit earned by the company among its shareholders. The…
Q: During 2023, Blue Corp. disposed of Blackberry Division, a major segment of its business. Blue…
A: Income statement is the financial statement which is prepared to show the profitability of the…
Q: Calculation of Book Value On June 1, 20--, a depreciable asset was acquired for $6,000. The asset…
A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…
Q: One of Matthew Corporation's competitors has learned that Matthew has a total expense per unit of…
A: Variable Cost Per Unit: The quantity of labor, materials, and other resources that are necessary in…
Q: Which of the following statements are true? 1. The costs attached to products that have not been…
A: Absorption Costing: The approach of management accounting known as "absorption costing," which is…
Step by step
Solved in 2 steps
- Problem Solving 1. Harry Corporation manufactures Products J, K, L and M from a joint process. Additional information is as follows: Product J K L M Units Produced 6,000 5,000 4,000 3,000 18,000 Market Value at Split - Off P 80,000 60,000 40,000 20,000 P 200,000 If Processed Further Additional Costs P 7,500 6,000 4,000 2,500 P 20,000 Market Value P 90,000 70,000 50,000 30,000 P 240,000 Assuming that total joint costs of P 160,000 were allocated using the market value at spilt-off approach, what joint cost were allocated to each product (J, K, L and M)?Please show me your solution so I can check if mine's correct. Thank you. ABC Corporation manufactures products W, X,Y, AND Z from a joint process. Additional information is as follows: Sales If processed further Units Value at Additional Sales Product Produced Split-off Costs Value W 6,000 P 80,000 P 7,500 P 90,000 X 5,000 60,000 6,000 70,000 Y 4,000 40,000 4,000 50,000 Z 3,000 20,000 2,500 30,000 Total 18,000 P200,000 P20,000 P240,000 Assuming that total joint costs of P160,000 were allocated using the relative sales value at split- off approach, what joint costs were allocated to each product? W________________ X__________________ Y________________ Z __________________15. Gdyan, Inc. which manufactures products X,Y and Z from a joint process. Joint product cost were P60,000. Additional information is provided below: Units Produced If Processed Further Product Sales Value at Sales Additional Split-Off P40,000 Values Costs 6,000 P55,000 P9,000 Y 4,000 35,000 45,000 7,000 2,000 25,000 30,000 5,000 Assuming that joint product costs are allocated using the physical measures (units produced) approach, what were the total cost allocated to product X? a. P27,000 Ь Р29,000 с. Р33,000 d. P39,000 16. Using the same information in No. 15, and assuming the joint product costs are allocated using the relative sales value at split-off approach, what were the total costs allocated to product Y? a. P27,000 b. Р28,000 с. Р28,350 d. P32,200
- Happy Corp. manufactures Products A, B, C, and D from a joint process. Additional information is as follows: Market If Processed Further Units Value at Additional Market Product Produced Split-Off Costs Value A 6,000 Php 80,000 Php 7,500 Php 90,000 B 5,000 60,000 6,000 70,000 C 4,000 40,000 4,000 50,000 D 3,000 20,000 2,500 30,000 18,000 Php 200,000…JOINT PRODUCTS: Machintosh Company produces two products from a common input. Common Input Question 1 The sales value of Product A at the split-off point (without further processing) is P 60,000. The sales value of Product B at the split-off point (without further processing) is P 120,000. Product A Product B *Note: Split-off point is the juncture in the process when the products become separately identifiable. If Product A will be processed further after the split-off point, it will incur a processing cost of P 22,197, but its sales value after further processing will now be P 96,829. What will be the profit for Product A after further processing?2. ABC Company uses a joint process to produce products A, B, and C. The joint production costs for 201A were 500,000 and were allocated using relative sales value at the split-off point method. Each product may be sold at its split-off point or processed further. Additional processing costs are entirely variable. Additional Sales Value at Final Sales Products Processing Costs P130,000 100,000 140,000 Split-off Value P300,000 120,000 250,000 420,000 230,000 A B 400,000 P1,050,000 P670,000 P370,000 a. To maximize profit, which product/s should be sold at split-off point and be processed further, respectively? b. If the alternative were to sell at split-off point or to process further all products, which alternative would be recommended?
- Kapangan Inc. manufactures products R, S and T from a joint process. Additional information follows: wwwwww u www R ТОTAL Units 8,000 4,000 14,000 P18,000 P120,000 ? P200,000 2,000 Joint Costs ? ? Sales value @ split-off P120,000 ? Further Processing costs P14,000 P10,000 P6,000 P30,000 Sales value of FG P140,000 Р60,000 P50,000 P250,000 Using the sale value at split-off, how much is the: joint cost allocated to S?Concord Company gathered the following data about the three products that it produces: Product Present Sales Value Estimated Additional Processing Costs Estimated Sales if Processed Further A $10600 $7300 $18900 B 12600 4300 15900 C 9600 2300 13900 Which of the products should not be processed further? Products A and C Product C Product B Product AConsider the information below for a company whose products goes through two processes; material cost of GHC100000 for a quantity of 10000kg, labour cost- GHC50000 and overhead cost as twice the cost of labour. The company expected an output of 9500kg from process 1 but eventually obtained 9400kg. What value should the output be transferred to process 2? OA. GHC36 O B. GHC26 OC. GHC16 D. GHC27
- Sheridan Company gathered the following data about the three products that it produces: Present Estimated Additional Sales Value Processing Costs if Processed Further Estimated Sales Product $7400 $19200 $10800 A 12800 4400 B 16200 9800 C 14200 2400 Which of the products should not be processed further? O Product C O Products A and C OProduct B OProduct AVE The G-Lab Company produced three joint products at a joint cost of $150,000. Two of these products were processed further. Production and sales were: K Product Sales Additional Processing Costs 200,000 0 100,000 If joint costs are allocated based on relative weight of the outputs and all products are main products, how much of the joint costs would be allocated to product A? (Do not round intermediary calculations. Round final answer to the nearest cent) A B с Weight 100,000 lbs 200,000 lbs 300,000 lbs. OA $25,000.00 B. $100,000.00 OC. $75,000.00 OD. $81,666.67 245,000 30,000 175,000BC Corporation manufactures products W, X,Y, AND Z from a joint process. Additional information is as follows: Sales If processed further Units Value at Additional Sales Product Produced Split-off Costs Value W 6,000 P 80,000 P 7,500 P 90,000 X 5,000 60,000 6,000 70,000 Y 4,000 40,000 4,000 50,000 Z 3,000 20,000 2,500 30,000 Total 18,000 P200,000 P20,000 P240,000 Assuming that total joint costs of P160,000 were allocated using the relative sales value at split- off approach, what joint costs were allocated to each product? W________________ X__________________ Y________________ Z __________________