Scotland Beauty Products manufactures face cream, body lotion, and liquid soap in a joint manufacturing process....
Scotland Beauty Products manufactures face cream, body lotion, and liquid soap in a joint manufacturing process. At the split-off point, the company has 300 pounds of face cream with a market value of $15 per pound, 200 pounds of body lotion with a market value of $13 per pound, and 300 pounds of liquid soap with a market value of $7 per pound and has incurred $200,000 in joint costs.
Round percentages in intermediate steps to the nearest whole percentage.
Using the market value at split-off method, allocate the joint costs to:
| a. Face Cream | $ | |
| b. Body Lotion | $ | |
| c. Liquid Soap | $ |
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Scotland Beauty Products manufactures face cream, body lotion,
and liquid soap in a joint manufacturing process....
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Lovely Lotion Inc. produces three different lotions: hand, body,
and foot. The lotions are produced jointly in a mixing process that
costs a total of $250 per batch. At the split-off point, one batch
produces 80, 40, and 25 bottles of hand, body, and foot lotion,
respectively. After the split-off point, hand lotion is sold
immediately for $2.50 per bottle. Body lotion is processed further
at an additional cost of $0.25 per bottle and then sold for...
Sell or Process Further Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $375,000 per quarter. For financial reporting purposes, the company allocates these costs to the joint products on the basis of their relative sales value at the split-off point. Unit selling prices and total output at the split-off point are as follows: Product A B С Selling Price $25 per pound $19 per pound...
Dorsey Company manufactures three products from a common input
in a joint processing operation. Joint processing costs up to the
split-off point total $350,000 per quarter. For financial reporting
purposes, the company allocates these costs to the joint products
on the basis of their relative sales value at the split-off point.
Unit selling prices and total output at the split-off point are as
follows:
Product
Selling Price
Quarterly
Output
A
$
16
per pound
15,000
pounds
B
$
8
per...
Arkansas Corporation manufactures liquid chemicals A and B from a joint process. It allocates joint costs on the basis of sales value at split-off. Processing 6,500 gallons of product A and 1,300 gallons of product B to the split-off point costs $6,100. The sales value at split-off is $2.40 per gallon for product A and $28.00 per gallon for product B. Product B requires additional separable processing beyond the split-off point at a cost of $2.70 per gallon before it...
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