Required: 1. What is the value of the ending inventory of product A? 2. What is the value of the ending inventory of product B?
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- Oakes Inc. manufactured 40,000 gallons of Mononate and 60,000 gallons of Beracyl in a joint production process, incurring 250,000 of joint costs. Oakes allocates joint costs based on the physical volume of each product produced. Mononate and Beracyl can each be sold at the split-off point in a semifinished state or, alternatively, processed further. Additional data about the two products are as follows: An assistant in the companys cost accounting department was overheard saying ...that when both joint and separable costs are considered, the firm has no business processing either product beyond the split-off point. The extra revenue is simply not worth the effort. Which of the following strategies should be recommended for Oakes?Webster Company produces 30,000 units of product A, 24,000 units of product B, and 16,000 units of product C from the same manufacturing process at a cost of $400,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of the products are $30 for A, $25 for B, and $1 for C. None of the products requires separable processing. Of the units produced, Webster Company sells 23,000 units of A, 23,000 units of B, and 16,000 units of C. The firm uses the net realizable value method to allocate joint costs and by-product costs. Assume no beginning inventory. Required: 1. What is the value of the ending inventory of product A? 2. What is the value of the ending inventory of product B?Webster Company produces 30,000 units of product A, 25,000 units of product B, and 16,500 units of product C from the same manufacturing process at a cost of $405,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of the products are $25 for A, $10 for B, and $2 for C. None of the products requires separable processing. Of the units produced, Webster Company sells 23,000 units of A, 24,000 units of B, and 16,500 units of C. The firm uses the net realizable value method to allocate joint costs and by-product costs. Assume no beginning inventory. Required: 1. What is the value of the ending inventory of product A? 2. What is the value of the ending inventory of product B? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the value of the ending inventory of product A? (Do not round intermediate calculations.) Ending inventory
- Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $178,600 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Sales Value atSplit-Off Point AllocatedJoint Costs Cost to ProcessFurther Sales Value ofProcessed Product Spock $209,500 $39,200 $110,100 $300,900 Uhura 299,900 59,100 85,100 400,900 Sulu 454,000 80,300 249,500 800,700 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Spock Uhura Sulu…Crane Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $179,800 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Incremental profit (loss) Sales Value at Split-Off Point Spock Uhura $209,700 Sulu 300,900 454,100 Save for Later $ Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).) sold as is Allocated Joint Costs $39.700 60,700 79,400 Spock process further Cost to Process Further $110,400 process further 85,100 249,700 $ Sales Value of Processed Product Indicate whether each of the…Webster Company produces 36,000 units of product A, 28,000 units of product B, and 11,000 units of product C from the same manufacturing process at a cost of $350,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of the products are $20 for A, $10 for B, and $1 for C. None of the products require separable processing. Of the units produced, Webster Company sells 29,000 units of A, 27,000 units of B, and 11,000 units of C. The firm uses the net realizable value method to allocate joint costs and by-product costs. Assume no beginning inventory. (Do not round intermediate calculations.) 1) What is the value of the ending inventory of product A? 2)What is the value of the ending inventory of product B?
- Webster Company produces 20,000 units of product A, 15,000 units of product B, and 12,000 units of product C from the same manufacturing process at a cost of $360,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of the products are $35 for A, $20 for B, and $1 for C. None of the products requires separable processing. Of the units produced, Webster Company sells 13,000 units of A, 14,000 units of B, and 12,000 units of C. The firm uses the net realizable value method to allocate joint costs and by-product costs. Assume no beginning inventory. Required: 1. What is the value of the ending inventory of product A? 2. What is the value of the ending inventory of product B? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the value of the ending inventory of product A? (Do not round intermediate calculations.) Ending inventoryKirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $179,400 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Sales Value atSplit-Off Point AllocatedJoint Costs Cost to ProcessFurther Sales Value ofProcessed Product Spock $209,700 $40,000 $109,600 $300,900 Uhura 300,000 60,200 84,900 399,900 Sulu 455,500 79,200 249,500 800,500 Determine the incremental profit or loss that each of the three joint products. Spock Uhura Sulu Incremental profit (loss) $ $ $ Indicate whether each of the three joint products should be sold as…Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $178,800 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $211,000 299,200 455,600 Allocated Joint Costs Incremental profit (loss) $ $39,700 59,800 79,300 Cost to Process Further $110,800 Spock 85,200 250,000 Sales Value of Processed Product $300,100 400,200 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 800,800 Uhura Sulu
- Pharoah Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $182,100 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $209,600 299,800 455,800 Allocated Joint Costs $40,200 60,900 81,000 Cost to Process Further $109,700 84,700 250,200 Sales Value of Processed Product $300,900 400,600 799,600 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45))Pharoah Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $181,000 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $209,200 300,900 455,600 Allocated Joint Costs Incremental profit (loss) $ $39,600 60,700 80,700 Cost to Process Further Spock $109,700 85,000 250,700 Sales Value of Processed Product the cold as is $299,000 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 401,000 799,400 Uhura processed further $ SuluThe Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint products are processed beyond the split-off point, incurring separable processing costs. There is a $2,000 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Yang 80,000 80,000 Separable processing costs-variable $ 86,000 Separable processing costs-fixed Sales price $ 14,000 $ 20,000 $6.00 $ 12.50 $ 1.50 Total joint costs for Marshall in the recent month are $268,000, of which $115.240 is a variable cost Units sold Units produced Manufacturing cost per unit t Total gross margin Required: 1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimal places.) 2. Calculate the total gross margin for each…