A company produced 230 units of Product L and 138 units of Product M during the current period and incurred joint costs of $780. Product L sells for $8 per unit and Product M sells for $20 per unit. Compute the cost to be allocated to Product M for this period's joint costs if the value basis is used.
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- Lukin Corporation reports the following first-year production cost information:BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000, Other information are as follows: Units produced (20.000; 30,000; 5.000 and 5.000): Unit sold (18.000; 25,000: 5,000 and 5.000): Final unit selling prices (P25.00: P20.00; P2.00 and P1.50): Further processing costs (P150,000: P210,00O; P5,000 and P4,000): Selling and Administrative expenses (P15.000; P21,000; P500 and P400): Desired profit on C and D (P2.000 and P1.500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total unit cost of Product B?* P10.42 P10.49 P10.92 P11.00Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 55,000 to 95,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 85,000 units during the year at a selling price of $8.67 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit $ $ 55,000 Units Produced and Sold 75,000 187,000 320,000 507,000 95,000
- Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 65,000 to 105,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 95,000 units during the year at a selling price of $9.36 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit $ $ $ 65,000 Units Produced and Sold 85,000 214,500 430,000 644,500 $ 0.00 $ 43,000 43,000 $ 0.00 $ 105,000 43,000 43,000 0.00Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 55,000 to 95,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 85,000 units during the year at a selling price of $8.90 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 55,000 Units Produced and Sold $ $ $ 75,000 Units Produced and Sold 192,500 330,000 522,500 $ 0.00 $ 95,000 Units Produced and Sold…Company produced joint products M, N and O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1,500; 2,500; 1,000); Unit Market value at split-off (P6; P10; P8); Final unit selling price (P10, P12, P15); Additional costs after split off (P3,000; P2,000; P5,000); Quantity Sold (1,200; 2,000; 800). Using the average unit cost method, what is the unit cost of Product M? P 7.80 P12.00 P 9.00 P 7.00
- Company produced joint products M, N and O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1,500; 2,500; 1,000); Unit Market value at split-off (P6; P10; P8); Final unit selling price (P10, P12, P15); Additional costs after split off (P3,000; P2,000; P5,000); Quantity Sold (1,200; 2,000; 800). Using the market value at split-off method, what is the unit cost of Product O? P11.67 P 9.13 P 7.00 P 7.80Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 53,000 to 93,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 83,000 units during the year at a selling price of $9.29 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 1 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost Variable cost Fixed cost Total cost Cost por unit: Required 2 Variable cost Fixed cost Total cost per unit 53,000 Units Produced and Sold $ S $ Required 1 Required 2 73,000 Units Produced and Sold 185,500 350,000…BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200.000. Other information are as follows: Units produced (20,000: 30.000: 5.000 and 5,000): Unit sold (18,000; 25.000; 5,000 and 5,000): Final unit selling prices (P25.00; P20.00: P2.00 and P1.50); Further processing costs (P150.000: P210.000: P5,000 and P4,000); Selling and Administrative expenses (P15,000: P21.000: P500 and P400): Desired profit on C and D (P2.000 and P1.500). If the entity uses average unit costs method in joint products, the reversal costs method in by products and there are no inventory on hand, what is the total net profit? P432,836 O P438,300 P438,589 P439,026
- BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25.000; 5,000 and 5,000); Final unit selling prices (P25.00; P20.00; P2.00 and P1.50); Further processing costs (P150,000: P210.000; PS,000 and P4.000); Selling and Administrative expenses (P15.000: P21,000; P500 and P400); Desired profit on C and D (P2.000 and P1.500). If the net proceeds of sale of by-products are presented as additional revenue of the main products, what is the total unit cost of Product B? O P10.42 P10 P10.49 O P11.00 BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20.000; 30.000; 5,000 and 5,000): Unit sold (18,000; 25.000:…Company produced and sold 30,000 units Product K and 2,000 units by-product W from the same process with joint cost P420,000. At split-off, the selling prices for K is P25 per unit while W is P5 per unit. BSBA desires P4,000 net profit on by-products. Using the reversal cost method in accounting for by-products, what is the unit cost of Product K and total cost of goods sold, respectively P13.80 and P420,000 P14.00 and P414,000 P14.00 and P420,000 P13.80 and P414,000