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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- Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $355,000 per quarter. For financial reporting purposes, the company allocates these costs to the joint products based on 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 a С Selling Price $ 21.00 per pound $15.00 per pound $27.00 per gallon Product A D 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 Costa $ 73,440 Quarterly Output 13,200 pounds 20,600 pounds 4,400 gallons $ 105,620 $ 46,000 Selling Price $26.20 per pound $ 21.20 per pound $35.20 per gallon Required: 1. What is the financial advantage (disadvantage) of further processing each of the…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 7.00Company 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 7.80
- After allocating the joint process costs to its two joint products, Allomar Co. reports gross margin percentages of 30% for Product A and 40% for Product B. Sales reported for each product were $25,000 for Product A and $60,000 for Product B. Neither of the two products were processed beyond the split-off point. Calculate the total amount of joint costs assigned between the two products. Allocated joint costs Product A Product B Assuming Allomar used the physical quantities method to allocate the joint costs, what percentage of the total production volume did Product B represent? (Round answer to 2 decimal places, e.g. 15.25%.) Proportion of joint costs assigned to product B %HanshabenBSBA 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
- Y Company produces two joint products: Sweet and Sour. Joint cost is allocated using the net realizable value method at split-off point. Joint production cost is $70,000. Neither product is salable at split-off point. During May, the additional costs incurred beyond split-off point are as follows: Sweet $ 32,000 Sour $ 48,000 Production: Sweet: 3,200 units Sour: 1,600 units Selling prices: Sweet: $50.00 per unit Sour: $ 90.00 per unit What is the amount of joint cost allocated to Sweet and Sour using the NRV Method at split-off point. (Must show calculations or no credit) Joint cost allocated to Sweet: $_____________________________ Joint cost allocated to Sour:…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:…Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $370,000 per quarter. For financial reporting purposes, the company allocates these costs to the joint products based on 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 Quarterly Output A $ 24.00 per pound 13,800 pounds B $ 18.00 per pound 21,500 pounds C $ 30.00 per gallon 5,000 gallons 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: Product Additional Processing Costs Selling Price A $ 81,150 $ 29.50 per pound B $ 117,125 $ 24.50 per pound C $ 52,900 $ 38.50 per gallon Required: What is the financial advantage (disadvantage)…
- 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 P414,000Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $385,000 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 Quarterly Output A $ 27.00 per pound 14,400 pounds B $ 21.00 per pound 22,400 pounds C $ 33.00 per gallon 5,600 gallons 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: Product Additional Processing Costs Selling Price A $ 89,220 $ 32.80 per pound B $ 129,170 $ 27.80 per pound C $ 60,160 $ 41.80 per gallon Required: 1. What is the financial advantage…
