J-M Company uses a joint process costing $15,000 to produce three main products. The company had no beginning inventory. Its current period operation data follow: Product S R Units Produced 500 450 300 Sales Value at Split-Off $5,000 6,000 9,000 Separable Sales Value After Further Processing $7,000 9,000 10,000 Costs $500 650 700 Units Sold 400 300 250

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Forest Products, Incorporated manufactures three products (FP-10, FP-20, and FP-40) from a single, joint input. None of the products can be sold without further processing. In November, joint product costs were $241,300. Additional information follows: Product FP-10 FP-20 FP-40 Units Produced 105,000 157,500 87,500 Product FP-10 FP-20 FP-40 Sales Values $ 177,750 311,250 85,300 Required: Forest Products uses the physical quantities (units produced) method to allocate joint costs. What joint costs would be allocated to each of the three products in November? Joint Costs Allocated Processing Costs (After Split-Off) $ 29,300 109,300 25,300

Hi-Tek Manufacturing, Incorporated, makes two types of industrial component parts-the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Incorporated Income Statement Sales Cost of goods sold Selling and administrative expenses Gross margin Net operating loss $ 1,651,800 1,211,394 440,406 640,000 $ (199,594) Hi-Tek produced and sold 60,200 units of B300 at a price of $19 per unit and 12,700 units of T500 at a price of $40 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: Direct materials Direct labor Manufacturing overhead Cost of goods sold B300 $ 400,700 $ 162,000 $ 120,200 $ 42,000 T500 Total $ 562,700 162,200 486,494 $ 1,211,394 The company has created an activity-based costing system to evaluate the profitability…

The following data relates to Alpha Company. Units in beginning inventory — Units produced 25,000 Units sold ($250 per unit) 21,000 Variable costs per unit:   Direct materials $35 Direct labor 60 Variable overhead 25 Fixed costs:   Fixed overhead per unit produced $50 Fixed selling and administrative expenses 160,000 Determine the value of ending inventory under variable costing.

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