Need help with question B sales vale at split off point. Please show how you got the numbers. I really need help calculating cost per liter for each product. Thanks P1. Robinson Chemical, Inc., processes pine rosin into three products: turpentine, paint thinner, and spot remover. DuringMay, the joint costs of processing were $240,000. Production and sales value information for the month is as follows:Liters Produced16,50016,0007,500ProductTurpentinePaint thinnerSpot removerSeparable Costs/liter$1.20$0.80$0.90Final Selling PriceSales Value at Split off$9.00$12.00$7.50$7.00$9.00$7.60a. Assume company is using physical measures at split-off to allocate joint costs. Compute Total cost per unit ofTurpentine, Paint thinner, and Spot remover, respectively.b. Assume company is using the sales value at split off method to allocate joint costs. Compute Total cost per unit ofTurpentine, Paint thinner, and Spot remover, respectively.Jue ORYA

The costs incurred in a production process that simultaneously produces a number of products or…

Pl. Robinson Chemical, Inc., processes pine rosin into three products: turpentine, paint thinner, and spot remover. During May, the joint costs of processing were $240,000. Production and sales value information for the month is as follows: Liters Produced 16,500 Sales Value at Split off $9.00 Separable Costs/liter $1.20 16,000 $7.00 $0.80 $7.50 7,500 $7.60 $0.90 $9.00 a. Assume company is using physical measures at split-off to allocate joint costs. Compute Total cost per unit of Turpentine, Paint thinner, and Spot remover, respectively. Product Turpentine Paint thinner Spot remover Final Selling Price $12.00 b. Assume company is using the sales value at split off method to allocate joint costs. Compute Total cost per unit of Turpentine, Paint thinner, and Spot remover, respectively.

Pl. Robinson Chemical, Inc., processes pine rosin into three products: turpentine, paint thinner, and spot remover. During May, the joint costs of processing were $240,000. Production and sales value information for the month is as follows: Liters Produced 16,500 Sales Value at Split off $9.00 Separable Costs/liter $1.20 16,000 $7.00 $0.80 $7.50 7,500 $7.60 $0.90 $9.00 a. Assume company is using physical measures at split-off to allocate joint costs. Compute Total cost per unit of Turpentine, Paint thinner, and Spot remover, respectively. Product Turpentine Paint thinner Spot remover Final Selling Price $12.00 b. Assume company is using the sales value at split off method to allocate joint costs. Compute Total cost per unit of Turpentine, Paint thinner, and Spot remover, respectively.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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