1) Total sales value at the splitoff point for paper= Papers produced*Selling price per page
= 180000*$0.12= $21600
2) Ending inventory of Paper= 180000-174000= 6000
Paper= 180000*$0.12= $21600
Pencil casings= 180000*$0.15= $27000
Total= $21600+27000= $48600
Weighted average proportion of Paper= $21600*100/48600= 44.44%
Joint costs assigned to ending inventory for Paper= (Cost of purchasing*Ending inventory of Paper*Weighted average proportion of Paper)/Total units produced of Paper
= $(12500*6000*44.44%)/180000
= $185.17
Bismite Corporation purchases trees from Cheney Lumber and processes them up to the splitoff point where...
What are the paper’s and the pencil’s approximate weighted
cost proportions using the sales value at split - off method,
respectively?
Bismite Corporation the process. The products are then sold t the month of October purchases trees from Cheney lumber and processes them up to the split- off point where two products (paper and pencil casings) emerge from o an independent company that markets and distributes them to retail outlets. The following information was collected for Trees processed Production 270...
1. Assembly department of Zahra Technologies had 200 units as work in process at the beginning of the month. These units were 45% complete. It has 300 units which are 35% complete at the end of the month. During the month, it completed and transferred 500 units. Direct materials are added at the beginning of production. Conversion costs are allocated evenly throughout production. Zahra uses weighted-average process-costing method. Calculate the total equivalent units in ending inventory for assignment of conversion...
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ond Company processes 12750 allons of direct m Product Y. Product X sells for 57 per gallon The following information is for December Chapter 16 Review an hand t erials to produto products Product Y, the main product sells for $160 per ga Production Product X: Product Y: Beginning Inventory Ending Inventory 5425 10,175 Sales 5300 10,170 125 The manufacturing costs totalled $27,000 25 The production method will report Product X in...
Problem 2: The Green Company processes unprocessed goat milk up to the splitoff point where three products, condensed goat milk, skim goat milk, and cream result. The following information was collected for the month of October: Direct Materials processed: Production: 240,000 gallons (after shrinkage) 92,500 gallons 105,500 gallons 42,000 gallons $12.50 per gallon $4.50 per gallon $20 per gallon Condensed goat milk Skim goat milk Cream Sales Condensed goat milk Skim goat milk Cream The costs of purchasing the of...