FUNDAMENTALS OF...(LL)-W/ACCESS>IP<
6th Edition
ISBN: 9781265724412
Author: LANEN
Publisher: MCG
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Textbook Question
Chapter 11, Problem 70P
Findina Missing Data: Net Realizable Value
Spartan Chemicals manufactures G-1, G-2, and G-3 from a joint process. Each gas can be liquified and sold for a higher price. Data on the process are as follows:
a This amount is the portion of the total joint cost of $360,000 that had boon allocated to G-1 Required
Determine the value for each lettered item.
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Students have asked these similar questions
VE
The G-Lab Company produced three joint products at a joint cost of $150,000. Two of these products were processed further. Production and sales were:
K
Product
Sales
Additional
Processing Costs
200,000
0
100,000
If joint costs are allocated based on relative weight of the outputs and all products are main products, how much of the joint costs would be allocated to product A? (Do not round intermediary
calculations. Round final answer to the nearest cent)
A
B
с
Weight
100,000 lbs
200,000 lbs
300,000 lbs.
OA $25,000.00
B. $100,000.00
OC. $75,000.00
OD. $81,666.67
245,000
30,000
175,000
PT Agile Box produces products 1,2 and 3 from one combined
product process. Information relating to the allocation of
combined production costs is as follows
Production
Product
Points /
Market / unit
Volume
Units
price
1.200 unit
3
200.000
600 unit
250.000
3
500 unit
4
350.000
Total
2.300 unit
Based on this data, you allocate a joint production cost
of IDR 345,000,000 to each product and calculate the
cost / unit of each product if PT DZAKI uses the
following alternatives:
a. Average unit method
b. Weighted average method (based on points /units)
2.
1,
2.
Problem Solving
1. Harry Corporation manufactures Products J, K, L and M from a joint process. Additional
information is as follows:
Product
J
K
L
M
Units Produced
6,000
5,000
4,000
3,000
18,000
Market Value at
Split - Off
P 80,000
60,000
40,000
20,000
P 200,000
If Processed Further
Additional
Costs
P 7,500
6,000
4,000
2,500
P 20,000
Market Value
P 90,000
70,000
50,000
30,000
P 240,000
Assuming that total joint costs of P 160,000 were allocated using the market value at spilt-off
approach, what joint cost were allocated to each product (J, K, L and M)?
Chapter 11 Solutions
FUNDAMENTALS OF...(LL)-W/ACCESS>IP<
Ch. 11 - Why do companies allocate costs? What are some of...Ch. 11 - What are the three methods of allocating service...Ch. 11 - What are the similarities and differences among...Ch. 11 - What criterion should be used to determine the...Ch. 11 - What is a limitation of the direct method of...Ch. 11 - What is a limitation of the step method of...Ch. 11 - Prob. 7RQCh. 11 - Why would a number of accountants express a...Ch. 11 - Prob. 9RQCh. 11 - What is the basic difference between the...
Ch. 11 - Prob. 11RQCh. 11 - If cost allocations arc arbitrary and potentially...Ch. 11 - Prob. 13CADQCh. 11 - Prob. 14CADQCh. 11 - Prob. 15CADQCh. 11 - Prob. 16CADQCh. 11 - Prob. 17CADQCh. 11 - Prob. 18CADQCh. 11 - What are some of the factors that a company needs...Ch. 11 - Prob. 20CADQCh. 11 - Prob. 21CADQCh. 11 - Prob. 22CADQCh. 11 - How is joint cost allocation like service...Ch. 11 - Prob. 24CADQCh. 11 - In what ways is joint cost allocation similar to...Ch. 11 - Why Are Costs Allocated?Ethical Issues You are the...Ch. 11 - Cost Allocation: Direct Method Caro Manufacturing...Ch. 11 - Allocating Service Department Costs First to...Ch. 11 - Cost Allwat ion: Direct Method University Printers...Ch. 11 - Prob. 30ECh. 11 - Cost Allocation: Step Method
Refer to the data for...Ch. 11 - Cost Allocation: Reciprocal Method
Refer to the...Ch. 11 - Cost Allocation: Reciprocal Method, Two Service...Ch. 11 - Cost Allocation: Reciprocal Method
Refer to the...Ch. 11 - Prob. 35ECh. 11 - Prob. 36ECh. 11 - Prob. 37ECh. 11 - Prob. 38ECh. 11 - Prob. 39ECh. 11 - Prob. 40ECh. 11 - Net Realizable Value Method: Multiple Choice
Oak...Ch. 11 - Sell or Process Further: Multiple Choice
Refer to...Ch. 11 - Net Realizable Value Method Euclid Corporation...Ch. 11 - Estimated Net Realizable Value Method Blasto,...Ch. 11 - Net Realizable Value Method to Solve for Unknowns...Ch. 11 - Net Realizable Value Method Bixel Components...Ch. 11 - Net Realizable Value Method with By-Products...Ch. 11 - Net Realizable Value Method Deming Sons...Ch. 11 - Physical Quantities Method
Refer to the facts in...Ch. 11 - Sell or Process Further
Refer to the facts in...Ch. 11 - Physical Quantities Method The following questions...Ch. 11 - Physical Quantities Method; Sell or Process...Ch. 11 - Physical Quantities Method with By-Product...Ch. 11 - Step Method with Three Service Departments Model,...Ch. 11 - Comparison of Allocation Methods BluStar Company...Ch. 11 - Solve for Unknowns: Direct Method Franks Foods has...Ch. 11 - Solve for Unknowns: Step Method RT Renovations is...Ch. 11 - Cost Allocation: Step Method with Analysis and...Ch. 11 - Prob. 59PCh. 11 - Prob. 60PCh. 11 - Direct, Step, and Reciprocal Methods:...Ch. 11 - Cost Allocation: Step and Reciprocal Methods...Ch. 11 - Allocate Service Department Costs: Direct and Step...Ch. 11 - Prob. 64PCh. 11 - Prob. 65PCh. 11 - Prob. 66PCh. 11 - Prob. 67PCh. 11 - Prob. 68PCh. 11 - Fletcher Fabrication, Inc., produces three...Ch. 11 - Findina Missing Data: Net Realizable Value Spartan...Ch. 11 - Finding Missing Data: Net Realizable Value Blaine,...Ch. 11 - Joint Costing in a Process Costing Context:...Ch. 11 - Find Maximum Input Price: Estimated Net Realizable...Ch. 11 - Effect of By-Product versus Joint Cost Accounting...Ch. 11 - Prob. 75PCh. 11 - Prob. 76P
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