Problem 1. Sheryl Company incurred P100,000 to manufacture the following products in ajoint process:UnitsProduced1,0002,0003,0004,000ProductAWeightPer unit4 Ibs.SP perunitP103 Ibs.2 Ibs.P20P201 lb.P10REQUIRED:1. Allocate the joint cost using the sales value method & weighted average as the basis.2. Determine the value of ending inventory of C assuming that 500 units are on hand at the endof a period under each two methods.(BCD

Problem 1. Sheryl Company incurred P100,000 to manufacture the following products in a joint process: Units Produced 1,000 2,000 3,000 4,000 Weight Per unit 4 Ibs. 3 Ibs. 2 Ibs. Product A B SP per unit P10 P20 P20 1 lb. P10 REQUIRED: 1. Allocate the joint cost using the sales value method & weighted average as the basis. 2. Determine the value of ending inventory of C assuming that 500 units are on hand at the end of a period under each two methods.

Problem 1. Sheryl Company incurred P100,000 to manufacture the following products in a joint process: Units Produced 1,000 2,000 3,000 4,000 Weight Per unit 4 Ibs. 3 Ibs. 2 Ibs. Product A B SP per unit P10 P20 P20 1 lb. P10 REQUIRED: 1. Allocate the joint cost using the sales value method & weighted average as the basis. 2. Determine the value of ending inventory of C assuming that 500 units are on hand at the end of a period under each two methods.

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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Subject : - Account
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The joint costs allocated to product Y were
Eren Co. recovers three product from a joint process. in October 2020 the joint cost amounted to P250,000 other data will follow using the Physical Value how much Joint Cost will be allocated to E-1? This will pertain to #3 to #11
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Please Answer Problem 2 only Please provide the requirements for Product A, B, C, and D. Thank you!
Net Realizable Value Method, Decision to Sell at Split-off or Process Further Arvin, Inc., produces two products, ins and outs, in a single process. The joint costs of this process were $60,000, and 14,000 units of ins and 36,000 units of outs were produced. Separable processing costs beyond the split-off point were as follows: ins, $102,000; outs, $450,000. Ins sell for $8.00 per unit; outs sell for $15.00 per unit. Required: 1. Allocate the $60,000 joint costs using the estimated net realizable value method. Allocated Joint Cost Ins $fill in the blank 1 Outs $fill in the blank 2 2. Suppose that ins could be sold at the split-off point for $7.00 per unit. Should Arvin sell ins at split-off or process them further?Ins be processed further as there will be $fill in the blank 4 profit if sold at split-off.
Joint products A, B and C are produced by JNT Corp. For the month just ended, these data are available: Using the market value method, the joint cost apportioned to each product will be: A. A – P22,652; B – P13,843; C – P13,335 B. A – P19,995; B – P19,014; C – P10,821 C. A – P22,440; B – P16,005; C – P11,385 D. A – P24,357; B – P14,885; C – P10,588
Exercise 11-47 (Algo) Net Realizable Value Method with By-Products (LO 11-7, 10) Butterfly Corp. manufactures products M1 and M2 from a joint process, which also yields a by-product, B1. Butterfly accounts for the revenues from its by-product sales as other income. Additional information follows: M1 24,400 ? M2 13,800 ? Joint cost of product M1 B1 9,600 ? Units produced Allocated joint costs Sales value at split-off $378,000 $252,000 $96,000 Total 47,800 $352,000 $726,000 Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what was the joint cost allocated to product M1? (Do not round intermediate calculations.)
60. Alphabet Company manufactures Products A and B from a joint process that also yields a by-product, X. Alphabet accounts for the revenues from its by-product sales as a deduction from the cost of goods sold of its main products. Additional information is as follows: a. 136,540 b. 79,200 c. 88,000 d. 86,591
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