SpockUhuraSuluSales Value atSplit-Off Point$209,300300,900454,200AllocatedJoint CostsIncremental profit (loss)$39,80060.00079,000Cost to ProcessFurther$110.100Spock85,000249,40059400Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative signpreceding the number eg.-45 or parentheses e.g. (45).)Sales Value ofProcessed Product$$299,800399,700799,300UhuraIndicate whether each of the three joint products should be sold as is, or processed further.Sulu

Joint cost means the cost incurred to produce more than one units and then joint cost need to be…

Answered: Spock Uhura Sulu Sales Value at…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Remember: Gross profit = SP- CP Activity 1.2 enti Complete the following table: Table 1.2: Finding the cost price, the gross profit or the selling price No Cast price Gross prafit Selling price 1.2.1 R5 600 R8 700 1.2.2 R3 400 30% 1.2.3 R6 800 R12 700 1.2.4 R17 500 R35 000 The owner of an enterprise has to calculate both the gross and the net profit. A business has certain operating expenses thai must be deducied from the gross profit to get the net profit. Examples of operating expenses are: • Salaries Wages • Rent paid/rent expense • Advertisements • Stationery. The cost of advertising the business is one example of an operating expense. Gross profit minaş operating expenses equals net profit."
ces Elsa Products processes Chem-Z Into two products: Chem-A and Chem-B. Chem-Z costs $41,200 per batch. The joint process produces 5,000 units of Chem-A with a market value of $174,200, and 15,000 units of Chem-B with a market value of $39,350. The conversion cost of the joint process is $16,000 per batch. Elsa Products allocates Joint costs using the physical quantities method. The company never holds any Inventory. Required: a. What cost (total, not unit) and profit will be reported for each product using the current method for allocating Joint costs? b. If the costs of the joint process are allocated on the basis of the net realizable value of the products, what cost (total, not unit) and profit will be reported for each product? c. How much will profit at Elsa Products Increase or decrease if the company switches to the net realizable value method for allocating Joint process costs? Complete this question by entering your answers in the tabs below. Required A Required B Required C…
Your answer is correct. Prepare an incamental analysis concerning thepossibie discontinuance of Division LEnter negot negative sign preceding the numbereg 45 or parentheses es (45)) susing either a Net Income Continue Eliminate hcrease Decease Woonquouco margin 5-ס2 -70754 Foed costs Cost of goods soic 54,000 27000 27000 Selling and adininistrativE 44,254 120E2 Total foed 98,154 Expenses 50E2 Income (css iom in -27,400 operations -21682 eTexbook and Media Attenpts 2 c5used (2) Frepare an incremental analysis concerning the possible discontinuance.of DrvSonL ntive sign preczding the number e 45 ar parentheseseg (45) Net Income Continue Eliminate hcease (Decesa in Contributionmargin Fored costs Cast of goods soic Selling and 25,830 12.915 12.915 adiministrative Total fued expenses Income (loss) firom aperations Assistance Used eTextbook and Media 10:56 AM
Continuation: Using sales value at split-off, what amount of joint processing cost is allocated to Product A? * a. P22,165 b. P 5,910 c. P11,380 d. P 5,542 Using net realizable value at split-off, what amount of joint processing cost is allocated to Product C? * a. P10,850 b. P 5,085 c. P 7,750 d. P21,315
What is the joint cost allocated to product Tab if the company employs relative sales value method? P300,000P200,000P192,000P288,000
Statement 1: Any loss acquired when the costs related to processing, storing, and disposing of by-products is greater than its sales value becomes an additional cost of the by-products. Statement 2: The incremental sales revenue, a basis for decision-making in incurring additional costs for further processing a product, is attainable beyond the split-off point. A. Both statements are trueB. Both statements are falseC. Statement I is true, Statement II is falseD. Statement I is false, Statement II is true
If the Sales Cost ( 350000)$, Sales ( 990000)$ , Ind. Marketing ( f. ) ( 120000)$ Ind. Exp. ( f.) ( 150000)$. Ad. Cost ( 220000)$. Net profit ( using .? variable Cost) ( 1130000 )$ ( 150000)$ ( 990000)$ ( another option ).
If the common cost ( 350 000)$. distribution between S. and R. using N.R.V. the sales Value of S. ( 200 000)$. , ( 300 000)$. to the R. and the Cost after off point to the S. ( 145000)$. the value of N.R.V. to the S. ? * . a- ( 145000)$. b-(55000 )$. C- ( another option)
If the common cost ( 350 000)$. distribution between S. and R. using N.R.V. the sales Value of S. ( 200 000)$. , ( 300 000)$. to the R. and the Cost after off point to the R. ( 155000)$. the value of N.R.V. to the R. ? *
Find the missing quantities. If there is no absolute loss, write "none." Breakeven Point Reduced Price ? Cost $116 Operating Expense $58 O A. Breakeven point = $174 Reduced price = $163 Absolute loss = none C. Breakeven point = $58 Reduced price = $47 Absolute loss=none Operating Loss $11 Absolute Loss ? B. Breakeven point = $174 Reduced price = $163 Absolute loss = $69 O D. Breakeven point = $58 Reduced price = $47 Absolute loss = $47
Marigold Company gathered the following data about the three products that it produces: Product PresentSales Value Estimated AdditionalProcessing Costs Estimated Salesif Processed Further A $10400 $7200 $18600 B 12400 4200 15600 C 9400 2200 13600 Which of the products should not be processed further? a. Product C b. Products A and C c. Product B d. Product A
If sales value at split-off method is used in allocating joint cost, how much is Product Z's share of the joint cost? A. 24,000 b. 48,000 c. 36,000

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