Products Units sold 10,000 20,000 P 15,000 40,000 20,000 P141,750 Units on hand 30,000 Sales P 81,000 Departments B- Direct material cost Direct labor cost Factory overhead P 56,000 24.000 P 40,450 10,550 There were no work in process inventory on hand on December 31, 2019 101,000 36,625 10,000 24. The estimated net realizable and the allocated joint costs of product Y are P 45,000 and P 18,000 respectively b. а. P 30,000 and P 18,000 respectively P 45,000 and P27,000 respectively d. P 30,000 and P27,000 respectively
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- CARAMEL Inc. manufactures three joint products. The following production data were provided by CARAMEL Inc. for the current period: Product Name Units Produced X Y Z Joint product costs for the current period were as follows: Raw materials Direct labor Factory overhead Costs before separation Costs after separation: X 1,000 2,000 3,000 The company uses the net realizable value method for allocating joint costs. 8. What is the Gross profit/(loss) on the sale of all X products? Y Z Production for April, in pounds: Z Additional Processing Final Selling Price Cost after Split Off 9. What is the total gross profit (loss) on the sale of all the joint products? MACCHIATO Company produces two main products jointly. X and Y. and Z. which is a by- product of Y. X and Y are produced from the same raw material. Z is manufactured from the residue of the process creating Y. Sales for April: Costs before separation are apportioned between the two main products by the net realizable value method. The…Vicerelandu, Inc. manufactures X, Y, and Z from a joint process. Joint product costs were P60,000. Additional information are as follows:(see pic) 1. Assuming that joint costs are allocated using the physical measures (units produced) approach, what were the total costs allocated to product X ________________________ Y ______________________ Z ______________________2. Assuming that joint product costs are allocated using the relative sales value at split-off approach, what were the total costs allocated to product X_________________________ y ______________________ Z ______________________Ardmore Company produces two main products jointly, A and B, and C, which is a by-product of B. A and B are produced from the same raw material. C is manufactured from the residue of the process creating B. Costs before separation are apportioned between the two main products by the net realizable value method. The net revenue realized from the sale of C is deducted from the cost of B. Data for April were as follows: Costs before separation P200,000 Costs after separation: A 50,000 B 32,000 C 4,000 Production for April, in pounds: A 800,000 B 200,000 C 20,000 Sales for April: A 640,000 pounds @ P0.4375 B 180,000 pounds @ 0.65 C 20,000 pounds @ 0.30 Determine the gross profit for April.
- Hales Company produces a product that requires two processes. In the first process, a subassembly is produced (subassembly A). In the second process, this subassembly and a subassembly purchased from outside the company (subassembly B) are assembled to produce the final product. For simplicity, assume that the assembly of one final unit takes the same time as the production of subassembly A. Subassembly A is placed in a container and sent to an area called the subassembly stores (SB stores) area. A production Kanban is attached to this container. A second container, also with one subassembly, is located near the assembly line (called the withdrawal store). This container has attached to it a withdrawal Kanban. Required: 1. Explain how withdrawal and production Kanban cards are used to control the work flow between the two processes. How does this approach minimize inventories? 2. Explain how vendor Kanban cards can be used to control the flow of the purchased subassembly. What implications does this have for supplier relationships? What role, if any, do continuous replenishment and EDI play in this process?Larsen, Inc., produces two types of electronic parts and has provided the following data: There are four activities: machining, setting up, testing, and purchasing. Required: 1. Calculate the activity consumption ratios for each product. 2. Calculate the consumption ratios for the plantwide rate (direct labor hours). When compared with the activity ratios, what can you say about the relative accuracy of a plantwide rate? Which product is undercosted? 3. What if the machine hours were used for the plantwide rate? Would this remove the cost distortion of a plantwide rate?A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs 12,900. None of the products can be sold at split-off, but must be processed further. Information on one batch of the three products is as follows: Required: 1. Allocate the joint cost to L-Ten, Triol, and Pioze using the net realizable value method. (Round the percentages to four significant digits. Round all cost allocations to the nearest dollar.) 2. What if it cost 2 to process each gallon of Triol beyond the split-off point? How would that affect the allocation of joint cost to the three products?
- CONSO Inc. manufactures joint products ALT and TAB, and a by-product DEL. Costs are assigned to the joint products by the net realizable value or final market value method which considers further processing costs in subsequent operations. It is the policy of CONSO Inc. to account for its by-product by market value or reversal cost method or deduction of net realizable value of by-product from the joint manufacturing costs of main products. The total manufacturing costs for 100,000 units were Php 1,520,000.00 during the year. Production and costs data follow: (a)Product Name: ALT, units produced:60,000, sales price per unit: Php 70.00, Further processing cost per unit Php 20.00 (b)Product Name: TAB, units produced:30,000, sales price per unit: Php 25.00, Further processing cost per unit Php 5.00 (C)Product Name: DEL, units produced:10,000, sales price per unit: Php 10.00, Further processing cost per unit Php 30.00, Selling and admin expense per unit, Php 5.00. 1.What is the value of DEL…Marin Products produces three products - DBB-1, DBB-2, and DBB-3 from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Key information about Marin's production, sales, and costs follows. Units Sold Price (after addt'l processing) Separable Processing cost Units Produced Total Joint Cost Sales Price at Split-off $ DBB-1 11,000 50 $282,000 11,000 $ $ DBB-2 17,000 20 $ 45 $ DBB-3 24,000 70 30 $ $114,000 $169,000 $ 565,000 17,000 24,000 52,000 $3,200,000 Total 50 52,000 The amount of joint costs allocated to product DBB-1 using the net realizable value method is (calculate all ratios and percentages to 2 decimal places, for example 33.33%, and round all dollar amounts to the nearest whole dollar):A factory producing article X also produces a by-product Y which is further processed into finished product. The joint cost of manufacturing is given below: Material RO 8,000 Labor RO 4,000 Overheads RO 2,000 Subsequent costs are given below: X Y Material RO 2,000 RO 4,000 Labor RO 4,000 RO 3,000 Overheads RO 2,400 RO 2,600 Sales value for X is RO 20,000 and Y is RO 30,000Estimated profits on selling prices are 40% for X and 30% for Y. Assume that selling and distributing expenses are in proportion of subsequent cost of material.a. Show how you would apportion joint cost of manufacture.b. Prepare a statement showing cost of production of X and Y.
- ABC Company produces two main products and a by-product out of a joint process. The ratio of output quantities to input quantities of direct material used in the joint process remains consistent from month to month. ABC employs the physical units method to allocate joint pro- duction costs to the two main products. The net realizable value of the by-product is used to reduce the joint production costs before the joint costs are allocated to the main products. Da- ta regarding ABC's operations for the current month are presented below. During the month, ABC incurred joint production costs of P2,520,000. The main products are not mar- ketable at the split-off point and, thus, have to be processed further. Monthly output in Kilos.. Selling price per Kilo. Separable process costs. First Main Product Second Main Product 150,000 P14 By-Product 60,000 P2 90,000 P30 P540,000 P660,000 The amount of joint production cost that ABC would allocate to the Second Main Product by using the physical…ABC Company produces two main products and a by-product out of a joint process. The ratio of output quantities to input quantities of direct material used in the joint process remains consistent from month to month. ABC employs the physical units method to allocate joint pro- duction costs to the two main products. The net realizable value of the by-product is used to reduce the joint production costs before the joint costs are allocated to the main products. Da- ta regarding ABC's operations for the current month are presented below. During the month, ABC incurred joint production costs of P2,520,000. The main products are not mar- ketable at the split-off point and, thus, have to be processed further. First Main Product Second Main Product Monthly output in Kilos.. Selling price per Kilo.. Separable process costs. By-Product 60,000 P2 90,000 P30 150,000 P14 P540,000 P660,000 The amount of joint production cost that ABC would allocate to the Second Main Product by using the physical…In using FIFO method, Richer Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For December 2021, Richer Company presented the following costs on three processes: *see image attached* 1. What is the amount of cost of goods manufactured? a. P226,926.61 b. P234,541.61 c. P240,072.00 d. None of the above 2. What is the total units to account for (TUTAF) in Department 1? a. 16,000 b. 15,100 c. 15,000 d. 15,700