Buling Inc. has two joint products, Tagiptip and Kugan, and uses the net realizable value method of allocating joint costs. The total joint costs for May amounted to P60,000. During the month, additional processing costs after split-off were P32,000 for Tagiptip and P48,000 for Kugan. Lego produced 16,000 units of Tagiptip and 8,000 units of Kugan during the month. The sales value of Tagiptip is P100 per unit and for Kugan is P200 per unit. The portion of Joint costs allocated to Kugan during the month is:

Buling Inc. has two joint products, Tagiptip and Kugan, and uses the net realizable value method of allocating joint costs. The total joint costs for May amounted to P60,000. During the month, additional processing costs after split-off were P32,000 for Tagiptip and P48,000 for Kugan. Lego produced 16,000 units of Tagiptip and 8,000 units of Kugan during the month. The sales value of Tagiptip is P100 per unit and for Kugan is P200 per unit. The portion of Joint costs allocated to Kugan during the month is:

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter19: Support Department And Joint Cost Allocation

Section: Chapter Questions

Problem 6BE: Man OFort Inc. produces two different styles of door handles, standard and curved. The door handles...

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Man OFort Inc. produces two different styles of door handles, standard and curved. The door handles go through a joint production molding process costing 29,000 per batch and producing 2,000 standard door handles and 1,000 curved door handles at the split-off point. Both door handles undergo additional production processes after the split-off point, but could be sold at that point: the standard style for 4 per door handle and the curved style for 2 per door handle. Determine the amount of joint production costs allocated to each style of door handle using the market value at split-off method.
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?
COMBI Inc. manufactures three joint products. The following production data were provided by COMBI Inc. for the current period: (a) Product Name: Xen, units produced: 1,000, Additional Processing Cost After Split Off: Php 20,000.00, Final Selling Price: Php 50.00 (b) Product Name: Yen, unit produced: 2,000, Additional Processing Cost after Split off: Php 10,000.00, Final Selling Price : Php 10.00 (c) Product Name: Zen, Units Produced: 3,000, additional processing cost after Split off:30,000, Final Selling Price: Php 30.00. Joint Product costs for the current period were as follows: Raw Materials Php 10,000.00, Direct Labor Php 15,000.00, Factory overhead Php 25,000.00. The company uses the net realizable value method for allocating joint cost. 1.What is the Gross Profit/(Loss) on the sale of all Xen products? 2.What is the total gross profit/(loss) on the sale of all the joint products?
The Berkel Corporation manufactures Widgets, Gizmos, and Turnbols from a joint process. June production is 10,000 widgets; 13,500 gizmos; and 15,000 turnbols. Respective per unit selling prices at split-off are $95, $60, and $20. Joint costs up to the split-off point are $187,500. What amount of joint costs will be allocated to the Turnbols? (Do not round any intermediary calculations.)
Allison, Inc., produces two products, X and Y, in a single joint process. Last month the joint costs were P75,000 when 10,000 units of Product X and 15,000 units of Product Y were produced. Addi-tional processing costs were P15,000 for Product X and P10,000 for Product Y. Product X sells for P10, and Product Y sells for P5. The joint cost allocations to Products X and Y respectively using the net realizable value method would be?
Allison, Inc., produces two products, X and Y, in a single joint process. Last month the joint costs were P75,000 when 10,000 units of Product X and 15,000 units of Product Y were produced. Addi-tional processing costs were P15,000 for Product X and P10,000 for Product Y. Product X sells for P10, and Product Y sells for P5. The joint cost allocations to Products X and Y respectively using the net realizable value method would be: a. P30,000; P45,000 b. P42,500; P32,500 c. P42,857 ; P32,143 d. P45,000 ; P30,000 e. none of the above.
Allison, Inc., produces two products, X and Y, in a single joint process. Last month the joint costs were $75,000 when 10,000 units of Product X and 15,000 units of Product Y were produced. Addi-tional processing costs were $15,000 for Product X and $10,000 for Product Y. Product X sells for $10, and Product Y sells for $5. The joint cost allocations to Products X and Y using the net realizable value method would be: Group of answer choices $42,500 $32,500 $30,000 $45,000 $42,857 $32,143 $45,000 $30,000 none of the above. Flag question: Question 2 Question 23 pts The joint cost allocations to Products X and Y using the physical units method would be: Group of answer choices $30,000 $45,000 $42,500 $32,500 $42,857 $32,143 $45,000 $30,000 none of the above. Flag question: Question 3 Question 33 pts The joint cost allocations to Products X and Y using the constant gross margin percentage method would be: Group of answer choices $42,143…
Canada corporation manufactures three products X,Y &Z from a joint process. February production is 4,000 X; 7,000 Y; and 8,000 Z. Respective per unit selling prices at splitoff are $15, $10, and $5. Joint costs up to the splitoff point are $75,000. If joint costs are allocated based upon the sales value at splitoff, what ?amount of joint costs will be allocated to Z .a $28,125 .b $26,471 .C $30,882 .d $17,647
TAC Inc., produces two products – Tics and Toes, from one process. The joint processing costs of materials, labor, and overhead total $220,000, producing 20,000 units of Tics and 30,000 units of Toes. The company sells Tics for $20 per unit and Toes for $15 per unit. The amount of joint costs assigned to Tics using the relative sales value method is: A) $103,532 B) $146,666 C) $73,333 D) $116, 471
Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $375,000 per quarter. For financial reporting purposes, the company allocates these costs to the joint products on the basis of their relative sales value at the split-off point. Unit selling prices and total output at the split-off point are as follows: Product Selling Price $ 25.00 per pound $ 19.00 per pound $ 31.00 per gallon Quarterly Output 14,000 pounds 21,800 pounds 5,200 gallons C Each product can be processed further after the split-off point. Additional processing requires no special facilities. The additional processing costs (per quarter) and unit selling prices after further processing are given below: Additional Processing Selling Price $ 30.60 per pound $ 25.60 per pound $ 39.60 per gallon Product Costs $ 83,800 $ 121,080 $ 55,280 A Required: 1. What is the financial advantage (disadvantage) of further processing each of…
Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $330,000 per quarter. For financial reporting purposes, the company allocates these costs to the joint products on the basis of their relative sales value at the split-off point. Unit selling prices and total output at the split-off point are as follows: Product A B C Product A B Selling Price $ 16.00 per pound $ 10.00 per pound $ 22.00 per gallon Each product can be processed further after the split-off point. Additional processing requires no special facilities. The additional processing costs (per quarter) and unit selling prices after further processing are given below: Additional Processing Costs $ 61,390 $ 87,645 $ 35,300 Quarterly Output 12,200 pounds 19, 100 pounds 3,400 gallons Required 1 Required: 1. What is the financial advantage (disadvantage) of further processing each of the three products beyond the split-off point? 2.…
The joint process from which Ple'egrea, Inc. obtains both Nuts and Bolts has a total cost of $74,000 per batch. From each batch, 2,400 pounds of Nuts and 18,600 pounds of Bolts are obtained. These can be sold at the split-off point for $38 and $14 respectively. For product costing purposes Ple'egrea allocates joint costs using the relative sales value method. The amount of joint cost allocated to Nuts would be, to the nearest dollar: