Compute the amount of joint production costs allocated to each product using the physical unit’s method.

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Answer 1

Question

Chapter 5, Problem 4PB

a.

To determine

Compute the amount of joint production costs allocated to each product using the physical unit’s method.

b.

To determine

Compute the amount of joint production costs allocated to each product using the weighted average method.

c.

To determine

Explain whether the cost of the type of fertilizer used is an appropriate weight factor.

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Students have asked these similar questions

Using the data given for Cases 1 below, and assuming the use of the average cost method, compute the separate equivalent units of production - one for materials and one for labor and overhead - under each of the following assumptions (labor and factory over - head are applied evenly during the process in each assumption). Assumptions: At the beginning of the process, 75% of the materials go into production, and 25% go into production when the process is one- half completed. Case 1: Started in process - 5,000 units. Finished - 3,000 units. Work in process, end of the period, 2,000 units, three-fourths completed. For this problem, determine the equivalent units for labor and overhead. Determine the equivalent units for materials only

General accounting

Gantner Company had the following department information about physical units and percentage of completion: Work in process May1 (60%) Completed and transferred out Work in process, May 31 (40%) Physical Units 48,000 1,20,000 40,000 If materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May? A. 155,200 B. 136,000 C. 168,000 D. 160,000

Answer 2

Question

Chapter 5, Problem 4PB

a.

To determine

Compute the amount of joint production costs allocated to each product using the physical unit’s method.

b.

To determine

Compute the amount of joint production costs allocated to each product using the weighted average method.

c.

To determine

Explain whether the cost of the type of fertilizer used is an appropriate weight factor.

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Answer 3

Question

Chapter 5, Problem 4PB

a.

To determine

Compute the amount of joint production costs allocated to each product using the physical unit’s method.

b.

To determine

Compute the amount of joint production costs allocated to each product using the weighted average method.

c.

To determine

Explain whether the cost of the type of fertilizer used is an appropriate weight factor.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 5, Problem 4PB

a.

To determine

Compute the amount of joint production costs allocated to each product using the physical unit’s method.

b.

To determine

Compute the amount of joint production costs allocated to each product using the weighted average method.

c.

To determine

Explain whether the cost of the type of fertilizer used is an appropriate weight factor.

Expert Solution & Answer

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Answer 5

Chapter 5, Problem 4PB

a.

To determine

Compute the amount of joint production costs allocated to each product using the physical unit’s method.

b.

To determine

Compute the amount of joint production costs allocated to each product using the weighted average method.

c.

To determine

Explain whether the cost of the type of fertilizer used is an appropriate weight factor.

Answer 6

Chapter 5, Problem 4PB

a.

To determine

Compute the amount of joint production costs allocated to each product using the physical unit’s method.

Answer 7

Chapter 5, Problem 4PB

a.

To determine

Compute the amount of joint production costs allocated to each product using the physical unit’s method.

Answer 8

b.

To determine

Compute the amount of joint production costs allocated to each product using the weighted average method.

Answer 9

b.

To determine

Compute the amount of joint production costs allocated to each product using the weighted average method.

Answer 10

c.

To determine

Explain whether the cost of the type of fertilizer used is an appropriate weight factor.

Answer 11

c.

To determine

Explain whether the cost of the type of fertilizer used is an appropriate weight factor.

Answer 12

Expert Solution & Answer

Answer 13

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Answer 14

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Answer 15

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Compute the amount of joint production costs allocated to each product using the physical unit’s method.

Solution Summary: The author calculates the amount of joint production costs allocated to each product using the physical unit's method.

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Compute the amount of joint production costs allocated to each product using the physical unit’s method.

Compute the amount of joint production costs allocated to each product using the weighted average method.

Explain whether the cost of the type of fertilizer used is an appropriate weight factor.

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