1.1.13 Accounting: What governs the allocation of joint product costs at split-off point? a) Management decision, b) Relative sales value method, c) Equal allocation basis, d) Production volume only 1.1.14 Ray Industries received an offer from an exporter for 15,000 units of product at $17.50 per unit. The acceptance of the offer will not affect normal production or domestic sales prices. The following data is available: Domestic unit sales price Unit manufacturing costs: Variable Fixed $20 11 1 What is the amount of income or loss from acceptance of the offer? 1.1.15 Chapter-Cost Accounting JK Corp. obtained the following information from its absorption costing accounting records: Operating income = $24,000 Total product costs incurred during the period = $16,000 Value of beginning work-in-process and finished goods inventories = $0 Value of ending work-in-process and finished goods inventories = $0 Sales $50,000 What is the total period costs incurred for this period? 1.1.16 Describe the key elements of the matching principle in accounting, and analyze how its application can influence the timing of revenue recognition and expense recording. Consider the implications of this principle for businesses engaged in long-term projects or those facing significant seasonal fluctuations in their operations. Additionally, explore potential conflicts that may arise between the matching principle and other accounting standards, such as the principles of revenue recognition and accrual accounting.

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Following information is related to Product X of Zempa Company: Current replacement cost $230 Cost to distribute $42 Historical cost Normal profit margin Selling price $215 $36 $245 If lower-of-cost-or-market rule (LCM Rule) is applied, then the value of Product X that would be reported in the balance sheet is: a. $215 b. $230 C. $203 d. S167

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Required information [The following information applies to the questions displayed below.] Information for Pueblo Company follows: Sales Revenue Less: Total Variable Cost Contribution Margin Weighted average CM ratio Product A Product B $ 60,000 $ 31,490 $ 28,510 Required: Determine Pueblo's (overall) weighted-average contribution margin ratio. Note: Do not round intermediate calculations. % $ 57,000 $ 11,800 $ 45,200

Jacoby Company received an offer from an exporter for 29,100 units of product at $18 per unit. The acceptance of the offer will not affect normal production or domestic sales prices. The following data are available: Domestic unit sales price $23 Unit manufacturing costs:   Variable $10 Fixed $3 What is the differential revenue from the acceptance of the offer? a.$145,500 b.$523,800 c.$1,193,100 d.$669,300

Rylan corporation received an offer from an exporter for 25,000 units of product at $16 per unit. The acceptance of the offer will not affect normal production or domestic sales prices. The following data is available  Domestic sales price: $22 Unit manufacturing costs: Variable: 11 Fixed: 6 A. What is the amount of income or loss from acceptance of the offer? B. What is the differential cost from acceptance of the offer?

Required information [The following information applies to the questions displayed below.] Information for Pueblo Company follows: Sales Revenue Less: Total Variable Cost Contribution Margin Weighted average CM ratio Product A $ 52,000 $ 10,000 $ 42,000 Required: Determine Pueblo's (overall) weighted-average contribution margin ratio. Note: Do not round intermediate calculations. % Product B $ 66,000 $18,320 $ 47,680

A company manufactures a single product, product Y. It hasdocumented levels of demand at certain selling prices for thisproduct as follows: Demand Selling price per unit Cost per unit Units £ £ 1100 48 24 1200 46 21 1300 45 20 1400 42 19 Required:Using a tabular approach, calculate the marginal revenues andmarginal costs for product Y at the different levels of demand, andso determine the selling price at which the company profits aremaximized.

The following pertained to Lomi Inc.: Product               Sales Price          Unit Variable Cost           Projected sales A                               P50                                   P34                       5,000 units B                                  20                                    15                        25,000 units C                                  25                                    16                        20,000 units   Fixed costs amounted to P154,000. Instructions: 2. Describe its net income if the sales mix will be based on peso sales. Why is the result not applicable in aiding management in decision-making?