Please do not give solution in image format thank you Bonita Dairy has four product lines: sour cream, ice cream, yogurt, and butter. The total costs of producing the milk basefor the products is $53500 which has been allocated based on litres of milk base used by each product. Results of Julyfollow:Units soldRevenue$7100Variable departmental costs 3500Fixed costs4700Net income (loss)($1100)$32000$13500Sour Cream Ice Cream Yogurt Butter1680720530$53500How much are total joint costs of the products?$14100$147009800900$4000Total4700 7630$12500 $25300 $596006800 11900 320001500 640013500$4200 $7000$14100

Joint cost is the cost incurred in a process where the yeild is multiple outputs for one input . It…

Answered: 1680 $7100 epartmental costs 3500 720…

Business

Accounting

1680 $7100 epartmental costs 3500 720 4700 7630 $14700 $12500 $25300 $5960 11900 3200 9800 530 6800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: please no copy paste no plagiarism when benefit is constant, how to manipulate the cost to have…

A: Net present value is the difference between the present value of cash flow and initial investment…

Q: Question 8: Which statement is incorrect regarding tables? Answer: A. B. C. D. O You can convert a…

A: Tables in excel are flexible and the data can be changed or modified. One can create a table by…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: pension protection act of 2006 strengthens the U.S. pension system by imposing stricter funding…

Q: Current Position Analysis The following items are reported on a company's balance sheet: Cash…

A: Current ratio and quick ratio are important financial ratios that we look at when assessing the…

Q: Asset turnover A company reports the following: Sales $1,729,350 823,500 Average total assets…

A: Assets Turnover Ratio :— It is the ratio of net sales and average total assets. Average total…

Q: will you please show solution without excel step by step

A: As per the given information: Initial salary is $40,000 Salary rise after first year to $44,200…

Q: Vitex, Incorporated manufactures a popular consumer product and it has provided the following data…

A: Direct material variance is the difference between standard direct material cost for actual…

Q: None

A: The statement is False.The "Goal Seek" functionality within Microsoft Excel isn't primarily tailored…

Q: Please do not give solution in image format thanku

A: Explanations: (Based from the information's I have gathered) FAQ (Frequently Asked Questions): While…

Q: Student ID Day 63638034 Monday 23957096 Thursday 28080825 Monday Exam Score 61 70 1. How many…

A: =COUNTIF is used to count the cells satisfying the given criteria in the given range.

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: To answer the question about which prominent cognitive psychologist Holyoak collaborated with, we…

Q: Please type excell also right now. dont upload images

A: With spot exchange rate (=S in $/Euro), interest rate in foreign country (rf) and interest rate in…

Q: 3. Plankton Corp. owned an asset that cost $600,000. The company sold the asset on January 1, Year 3…

A: Gain on sales is calculated by deducting the carrying value from the proceed of sale.

Q: o the problem please i need a red

A: Molding FabricationMachine Hours 2,500.00 1,500.00Fixed Manufacturing Overhead cost $ 13,000.00…

Q: In addition, Bridgeport is involved in a lawsuit. Legal counsel feels it is probable Bridgeport will…

A: Introduction:- A balance sheet is a statement of assets, liability, and equity. It is prepared after…

Q: What is the cost of goods manufactured for the month of October? a. $350,500 b. $221,700 c. $345,200…

A: Predetermined Overhead Rate =Estimated Manufacturing OverheadEstimated Machine Hours…

Q: What does internal rate of return (IRR) help you to determine

A: Internal Rate of Return (IRR) is a financial metric used to evaluate potential profitability of an…

Q: please display your formula used in your work

A: Monthly payment refers to the payment amount for the loan grounded on the constant payments as well…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Step 1:Alteryx Designer is a data analytics software that enables users to blend and analyze data…

Q: Use the following information to answer the next 3 questions Kite Corp. manufactures custom cabinets…

A: Manufacturing overhead means the cost incurred indirect in factory for the production of goods.…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Audio tapes, photocopiers, and record players are analog devices. Analog devices deal with…

Q: A B C D E A B C D E Type of Quality Characteristic Consistency Type of Quality Characteristic #…

A: A. It can be seen that an unit of Chocolate Chip Cookies is valued at $9.56. However, the same…

Q: Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash…

A: Cash Dividends :— It is the cash paid to stockholders against the distribution of their return on…

Q: Ollie: Receives 500 shares of stock Land and Building 30,000 100,000 • Mortgage on land & building…

A: Gain or loss Gain and loss which indicate that whether any kind of profit or loss which are…

Q: wich common workflow error can cause duplicate expenses in quickbooks online

A: The common workflow error that can cause duplicate expenses in QuickBooks Online is:Create a bill to…

Q: Inacio Corporation uses the weighted-average method in its process costing system. Data concerning…

A: In accounting, the Weighted Average Cost (WAC) method of inventory valuation uses a weighted average…

Q: allowing the holder to purchase 100 common shares in Marin a me day of the sale of the bonds.…

A: Answer : Journal entries : Date Account title Debit Credit Jan.1,2023 Cash (5300*103) $545,900…

Q: Anna Inc. sells two products as follows: Product A Product B Units sold 3,800 4,750 Selling price…

A: Break-Even Point: Your company has reached its break-even point when its entire expenses and total…

Q: surement column answers are incorrect in the pic and you also have the

A: The current rate method is a method of translation that uses the current exchange rate.

Q: Which of the following is a control that can be used to ensure that all of the components of an…

A: The procedures for rejection inputs is a control that can be used by the auditor to ensure that all…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: The problem 48079413 is a simple yet interesting mathematical exercise that involves finding the sum…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: The correct option is : A ) Excel Reason: This option is correct because Excel files (or CSV files)…

Q: Question 9: When a workbook is protected, you can still Answer: A. B. C. D. O delete worksheets O…

A: Here discuss about the details of the data workbook protection in the excel and its uses as well.…

Q: jorunalize the transactions

A: Journal entries recording is the first step in accounting cycle process, in which atleast one…

Q: What is the balance in work in process at the end of October? la. $104,100 b. $129,100 c. $249,400…

A: Work-in-progress (WIP) The cost of unfinished goods in the manufacturing process is called Work in…

Q: solution cannot be understand, please show a clearer one.

A: Here, Required Amount (FV) is P2,500,000 Time Period (n) is 40 years Interest Rate (r) is 9%…

Q: Copying bfrom chegg is not a good idea. Explain simply what accounting is

A: Accounting is a comprehensive word with several subfields such as cost accounting, management…

Q: Define Inventories.

A: Introduction: Balance sheet: All Assets and liabilities are shown in balance sheet. It tells the net…

Q: 7. What are drawings? How are drawings different from salary? Please be specific. Please use your…

A: Explanation regarding drawing and how it differ from salaries are as explained below. salaries are…

Q: On January 1, 2024, Kingbird Corporation granted 10,200 options to key executives. Each option…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Logic itled form /e/1FAlpQLSddtl3jMNXR1Z_FruZfld9vTWQBWIIXPOt8Gf5XJFq3pjMM 2.a Give example of a…

A: INTRODUCTION Proof: Proofs are reasonable arguments that are stated as statements of fact and are…

Q: For each of the transactions for the month below, journalize the necessary entry. The first entry…

A: Job costing is a system in which costs are recorded for a particular job rather than the entire…

Q: Horizontal Analysis The comparative accounts payable and long-term debt balances for a company…

A: Amount of change Increase/Decrease Percentage Account payable $ 11,284 Increase 26% Long-term…

Q: Can you explain what I might be missing throughly please? I have it correct but it claims that it's…

A: Transaction a: Cash reveived on issue of shares. It will increase the ccash and share capital.

Q: Question 2: A long-text entry will be truncated if the cell to the right is in use. Answer: A.…

A: In an excel sheet, if a text is too long in a particular cell & the cell to the right is in use…

Q: answer ed is coming back incorrect please help

Q: Return on Total Assets A company reports the following income statement and balance sheet…

A: Return on total Assets :— It is the measure of profitability that indicate the profitability as a…

Q: Gadsen Company's quality cost report is to be based on the following data: Maintenance of test…

A: A quality cost report details the costs related to internal and external failures, prevention, and…

Concept explainers

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.

Question

Please do not give solution in image format thank you

Bonita Dairy has four product lines: sour cream, ice cream, yogurt, and butter. The total costs of producing the milk base
for the products is $53500 which has been allocated based on litres of milk base used by each product. Results of July
follow:
Units sold
Revenue
$7100
Variable departmental costs 3500
Fixed costs
4700
Net income (loss)
($1100)
$32000
$13500
Sour Cream Ice Cream Yogurt Butter
1680
720
530
$53500
How much are total joint costs of the products?
$14100
$14700
9800
900
$4000
Total
4700 7630
$12500 $25300 $59600
6800 11900 32000
1500 6400
13500
$4200 $7000
$14100

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Meaning

VIEW

Step 2: Working

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
All blanks need to be filled please and thank you, it's incomplete as of now.
Not a previously submitted question. Thank you
Please do not give solution in image format thanku
Please answer questions correctly
How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
This question has not been submitted previously. Thank you
LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
Please do not give solution in image format thanku
How do you get a report into PDF format? Select an answer: You need to email the report and then convert it to PDF. Click on the Export button and Click on Export as PDF. You cannot export reports into PDF. You have to print the report and then scan it as a PDF.