Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $90,000 was as follows: Separable Processing cost Units Produced Sales Value (after addt'1 processing) L M N Total $11,500 $28,000 $6,500 $ 46,000 1,800 4,000 4,900 10,700 $66,000 $57,500 $16,000 $139,500 The amount of joint costs allocated to product L using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):

Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $90,000 was as follows: Separable Processing cost Units Produced Sales Value (after addt'1 processing) L M N Total $11,500 $28,000 $6,500 $ 46,000 1,800 4,000 4,900 10,700 $66,000 $57,500 $16,000 $139,500 The amount of joint costs allocated to product L using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 27E: Pacheco, Inc., produces two products, overs and unders, in a single process. The joint costs of this...

See similar textbooks

Similar questions

Oakes Inc. manufactured 40,000 gallons of Mononate and 60,000 gallons of Beracyl in a joint production process, incurring 250,000 of joint costs. Oakes allocates joint costs based on the physical volume of each product produced. Mononate and Beracyl can each be sold at the split-off point in a semifinished state or, alternatively, processed further. Additional data about the two products are as follows: An assistant in the companys cost accounting department was overheard saying ...that when both joint and separable costs are considered, the firm has no business processing either product beyond the split-off point. The extra revenue is simply not worth the effort. Which of the following strategies should be recommended for Oakes?
Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $75,000 was as follows: M Total Separable Processing cost $10,000 $25,000 $2,000 $ 37,000 Units Produced 1,200 2,500 4,300 8,000 Sales Value (after addt'1 processing) $60,000 $50,000 $7,000 $117,000 The amount of joint costs allocated to product M using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):
Batches Incorporated produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $95,000 was as follows: L M N Total Separable Processing cost $ 12,000 $ 29,000 $ 8,000 $ 49,000 Units Produced 2,000 4,500 5,100 11,600 Sales Value (after additional processing) $ 68,000 $ 60,000 $ 19,000 $ 147,000 The amount of joint costs allocated to product M using the physical measure method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):
Benjamin Signal Company produces products R, J, C from a joint process. Each product may be sold at the split off point or be processed further. Joint production costs of $92,000 are allocated to the products based on the relative number of units produced. Data for the current year operations follow: Product Units Allocated Joint Sales Value at Produced Production Spit off Cost $ 32,000 $ 40,000 $ 20,000 $ 76,000 $ 71,000 $ 48,000 R 8,000 10,000 5,000 Product R can be processed beyond the split off point for an additional cost of $26,000 and can then be sold for $105,000. Product J can be processed beyond the split off point for an additional $38,000 and then sold for $117,000. Product C can be processed beyond the split off point for an additional $12,000 and then sold for $57,000. Required: Which products should be processed beyond the split off point? Show your calculations.
Johns Company manufactures products R, S, and I from a joint process. The following information is available: Product R. Total Units produced 12,000 ? 24,000 ? $50,000 $200,000 ? $120,000 Sales value at split-off Joint costs $ 48,000 Sales value if processed further Additional costs if processed further $ 18,000 $14,000 $10,000 $ 42,000 $110,000 $90,000 $60,000 $260,000 Assuming that joint product costs are allocated using the relative-sales-value at split-off approach, what was the sales value at split-off for products R and S? Product R Product S $ 55,000 $ 63,000 $ 80,000 $ 91,000 A) $ 75,000 B) $81,000 C) $70,000 D) $83,000 E) $101,000 $ 92,000
Batches Incorporated produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $115.000 was as follows: Separable Processing cost Units Produced Sales Value (after additional processing) Multiple Choice $15,779 The amount of joint costs allocated to product L using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): O $16,853 $ 14,000 $ 33,000 2,800 6,500 $ 76,000 $ 70,000 $36,681 N $ 14,000 5,900 $ 31,000 Total $ 61,000 15,200 $ 177,000 B
Joint Products Tango Company produces joint products M, N, and T from a joint process. Thisinformation concerns a batch produced in April at a joint cost of $120,000:ProductUnits Producedand SoldAfter Split-OffTotal Separable Costs Total Final Sales ValueM 10,000 $10,000 $160,000N 4,000 10,000 140,000T 5,000 5,000 25,000Required How much of the joint cost should be allocated to each joint product using the net realizablevalue method?
ohns Company manufactures products R, S, and T from a joint process. The following information is available: Product R S T Total Units produced 25,000 ? ? 50,000 Sales value at split-off ? ? $ 103,000 $ 420,000 Joint costs $ 100,000 ? ? $ 250,000 Sales value if processed further $ 240,000 $ 187,500 $ 125,000 $ 552,500 Additional costs if processed further $ 37,500 $ 28,000 $ 21,250 $ 86,750 Assuming that joint product costs are allocated using the relative-sales-value at split-off approach, what was the sales value at split-off for products R and S? Product R Product S A) $ 143,000 $ 154,000 B) $ 151,000 $ 160,000 C) $ 168,000 $ 149,000 D) $ 179,000 $ 162,000 E) $ 189,000 $ 171,000 Multiple Choice Option A Option B Option C Option D Option E
HASF Corporation manufactures products A, B, and C from a joint process. Joint costs are allocated on the basis of relative sales value at the end of the joint process. Additional information for HASF are as follows: A B C Total Units produced 12000 8000 4,000 24,000 Joint costs 144000 60,000 36,000 240,000 Sales value before additional processing 240000 100,000 60,000 400,000 Additional costs for further processing 28000 20,000 12,000 60,000 Sales value if processed further 280000 120,000 70,000 470,000 Required: Which, if any, of products A, B, and C should be processed further and then sold? Keeping in view the answer of "part a", write down your critical feedback to support your answer
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $190,000: Product Units Produced and Sold After Split-Off Total Separable Costs Total Final Sales Value M 17,000 $ 18,800 $ 230,000 N 11,000 16,400 210,000 T 12,000 3,800 39,000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method?
HASF Corporation manufactures products A, B, and C from a joint process. Joint costs are allocated on the basis of relative sales value at the end of the joint process. Additional information for HASF are as follows: Units produced Joint costs 12,000 144,000 в 8,000 60,000 с 4,000 36,000 Total 24,000 240,000 Sales value before additional processing 240,000 100,000 60,000 400,000 Additional costs for further processing Sales value if processed further 28,000 280,000 20,000 120,000 12,000 70,000 60,000 470,000 Required: a. Which, if any, of products A, B, and C should be processed further and then sold? b. Keeping in view the answer of "part a", write down your critical feedback to support your answer (Word limit Max 200)
ALASKA Company manufactures products F, G and W from a joint process. Joint costs are allocated on the basis of relative sales value at split-off. Additional informaton for the June 20x1 production activity as follows: F G W Total Units produced 50,000 40,000 10,000 100,000 Joint costs ? ? ? P450,000 Sales value at split-off P420,000 P270,000 P60,000 P750,000 Additional costs if processed further 88,000 30,000 12,000 130,000 Sales value if processed further 538,000 320,000 78,000 936,000 Assuming that the 10,000 units of W were processed further and sold for P78,000, what was ALASKA's gross profit on this sale?