It's mind-boggling the number of products that are made with cotton. From salad dressing, to T-shirts, to diapers, to animal seed, the possibilities are practically endless. Here is just one combination of products that could be produced from raw cotton, along with a variety of ways the manufacturer could allocate costs between the products. Let's start with the joint cleaning and separation process, which allows for the cotton seed and the lint to be separately identifiable. The following quantities of cotton seed and lint were produced for a total cost (including the raw cotton and processing costs) of $232,000. 435,000 pounds of cotton seed 315,000 pounds of lint (fiber) Both of these products can be sold at this point, or they can be processed further. In their present state, they're worth: $0.13 per pound for cotton seed $0.75 per pound for lint This particular company presses the cotton seed to make oil and uses the lint to make thread. The additional costs and processes generate higher sales values for the final products, as follows. Seed/Oil Lint/Thread Additional cost Final sales value $21,000 $79,200 $84,000 $335,000 (a) Allocate the joint process costs using the sales value at split-off method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) Seed Share of joint cost $ Lint

Vishanu

'Brisbane Refinery Ltd' (BRL) processes canola oil for the Supermarket Chain G-Mart. It is involved in continuous processing to produce canola oil and uses FIFO process costing to account for its production costs. The FIFO is suitable for BRL as costs are quite unstable due to the volatile price of the canola seeds it uses in production. The canola seeds are processed through one department. Overhead is applied based on direct labour costs, and the application rate has not changed over the period covered by the problem. The Work-in-Process Inventory account showed the following balances at the start of the current period. Direct materials $195,500 Direct labour 390,000 Overhead applied 487,500 These costs were related to 78,000 litres that were in process at the start of the period. During the period, 90,000 litres were transferred to finished goods inventory. Of the litres finished during this period, 80 percent were sold. After litres have been transferred to finished goods…

Having trouble with prior chapter work still and we are moving on to another chapter.

As you learned in the previous chapters, Current Designs has two main product lines-composite kayaks, which are handmade and very labor-intensive, and rotomolded kayaks, which require less labor but employ more expensive equipment. Current Designs' controller, Diane Buswell, is now evaluating several different methods of assigning overhead to these products. It is important to ensure that costs are appropriately assigned to the company's products. At the same time, the system that is used must not be so complex that its costs are greater than its benefits. Diane has decided to use the following activities and costs to evaluate the methods of assigning overhead. Activities Cost Designing new models Creating and testing prototypes $120,000 144,000 Creating molds for kayaks 208,000 Operating oven for the rotomolded kayaks 38,000 Operating the vacuum line for the composite kayaks 27,000 192,000 Supervising production employees Curing time (the time that is needed for the chemical processes…

Can you fix the bottom question

Mary Jones and Jack Smart have joined forces to start M&J Food Products, a processor of packaged shredded lettuce for institutional use. Jack has years of food processing experience, and Mary has extensive commercial food preparation experience. The process will consist of opening crates of lettuce and then sorting, washing, slicing, preserving, and finally packaging the prepared lettuce. Together, with help from vendors, they think they can adequately estimate demand, fixed costs, revenues, and variable cost per 5-pound bag of lettuce. They think a largely manual process will have monthly fixed cost of $50,000 and a variable cost of $2.50 per bag. They expect to sell 75,000 bags of lettuce per month. They expect to sell the shredded lettuce for $3.25 per 5-pound bag. Jack and Mary has been contacted by a vendor to consider a more mechanized process. This new process will have monthly fixed cost of $125,000 per month with a variable cost of $1.75 per bag. Based on the above…

JT Engineering makes widgets. Widgets first go through Smelting and then go through Polishing. JT has decided to do away with the polishing step, electing to sell unpolished widgets to its customers. How will this process modification impact JT's manufacturing costs and flow of costs? O It will decrease manufacturing costs and eliminate the need for Work in Process accounts. O It will increase manufacturing costs and eliminate the need for Work in Process accounts. O It will decrease manufacturing costs and eliminate the need for a Work in Process-Polishing account. O It will increase manufacturing costs and eliminate the need for a Work in Process-Polishing account.