The total value of ending inventory at the end of the quarter is:a. 1,140,000b. 750,000c. 721,500d. 788,500 The JYD Company processes apples into pies, spread, and dressing. During the second quarter of 2021, thejoint cost of processing the apples was P750,000. There were no beginning inventories for the quarter.Production and sales value information for the quarter were as follows: Assume the use of the estimated netrealizable value method.Products Units Produced SV@ split-off Separable costs Final Selling PriceEnding UnitsPies20,000P12/unitP20/unitP35/unit7,000Spread 50,00015/unit10/unit28/unit24,000Dressing 25,0009/unit8/unit20/unit10,000

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Description: The total value of ending inventory at the end of the quarter is:a. 1,140,000b. 750,000c. 721,500d. 788,500 The JYD Company processes apples into pies, spread, and dressing. During the second quarter of 2021, thejoint cost of processing the apples wa

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Business

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The total value of ending inventory at the end of the quarter is: a. 1,140,000 b. 750,000 c. 721,500 d. 788,500

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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The JYD Company processes apples into pies, spread, and dressing. During the second quarter of 2021, the joint cost of processing the apples was P750,000. There were no beginning inventories for the quarter. Production and sales value information for the quarter were as follows: Assume the use of the estimated net realizable value method. Products   Units Produced    SV @ split-off    Separable costs   Final Selling Price        Ending Units Pies            20,000                    P12/unit                P20/unit                P35/unit                      7,000 Spread      50,000                      15/unit                  10/unit                  28/unit                   24,000 Dressing   25,000                        9/unit                    8/unit                  20/unit                   10,000 The allocated joint cost for product Dressing at the end of the quarter is: Group of answer choices c. P150,000 a. P250,0000 d. Not given b. P450,000
The JYD Company processes apples into pies, spread, and dressing. During the second quarter of 2021, the joint cost of processing the apples was P750,000. There were no beginning inventories for the quarter. Production and sales value information for the quarter were as follows: Assume the use of the estimated net realizable value method. Products   Units Produced    SV @ split-off    Separable costs   Final Selling Price        Ending Units Pies            20,000                    P12/unit                P20/unit                P35/unit                      7,000 Spread      50,000                      15/unit                  10/unit                  28/unit                   24,000 Dressing   25,000                        9/unit                    8/unit                  20/unit                   10,000 The total value of ending inventory at the end of the quarter is: Group of answer choices b. P1,140,000 d. P788,500 c. P721,500 a. P750,000
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