Homework Answers
| Product | Expected Sales Value(units*selling price) | Separable Costs(SC= units* SC/unit) | NetRealizable Value(ESV-SC) | Percentage |
| Catsup | $2,800,000 | $300,000 | $2,500,000 | 35.71% |
| Juice | 3,750,000 | 750,000 | 3,000,000 | 42.86% |
| Canned | 2,000,000 | 500,000 | 1,500,000 | 21.43% |
| Totals | $7,000,000 | 100.00% |
| Product | Percentage | Joint costs | Allocated Costs(per% * JC) | Separable Cost | Product Cost(AC+SC) |
| Catsup | 35.71% | 420,000 | 149,982 | 300,000 | 449,982 |
| Juice | 42.86% | 420,000 | 180,012 | 750,000 | 930,012 |
| Canned | 21.43% | 420,000 | 90,006 | 500,000 | 590,006 |
Amount allocated to Catsup = $ 449,982
per case cost = 449,982 /100,000 = $4.5 / case
Amount allocated to Juice = $930,012
per case cost = 930,012/150,000 = $6.20/case
Amount allocated to Canned = $590,006
per case cost = 590,006/200,000 = $2.95/case
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red sauce canning company processes tomatoes
Q2. Red Sauce Canning Company processes tomatoes into catsup, tomato...
Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer...
Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer of 2018, the joint costs of processing the tomatoes were $420,000. There was no beginning inventory for the summer. Production and sales information for the summer is as follows: Production(# Product of cases) Sales (# of cases) Sales Value at Splitoff Point Separable Costs Final Selling Price 80,000 $6 per case Catsup 100,000 120,000 Juice 150,000 $8 per case $3.00 per Catsup Premium $23...
Part 2: Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During...
Part 2: Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer, the joint costs of processing the tomatoes were $420,000. There was no beginning or ending inventories for the summer. Production and sales value information for the summer were as follows: Product Cases Additional Costs Selling Price Ketchup 100.000 $3.00 per case $28 per case Juice 150,000 5.00 per case $25 per case Canned 200,000 2.50 per case 10 per case Required: a....
UU PUNIS) Red Sauce Canning Company processes tomatoes into two joint products: Catsup and Tomato Juice....
UU PUNIS) Red Sauce Canning Company processes tomatoes into two joint products: Catsup and Tomato Juice. During the summer of 2018, the joint costs of processing the tomatoes were $4,200,000. There was no beginning or ending inventories for the summer. Production and sales information for the summer is as follows: Product Catsup Juice Production Units at Splitoff Point 100,000 cases 150,000 cases Separable Costs $300,000 $750,000 Final Sales Units 50,000 cases 100,000 cases Final Selling Price S28 per case 25...
The Marshall Company has a joint production process that produces two joint products and a by-product....
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The two joint products are processed beyond the split-off point,
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Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer of 2018, the joint costs of processing the tomatoes were $420,000. There was no beginning inventory for the summer. Production and sales information for the summer is as follows: Production(# Product of cases) Sales (# of cases) Sales Value at Splitoff Point Separable Costs Final Selling Price 80,000 $6 per case Catsup 100,000 120,000 Juice 150,000 $8 per case $3.00 per Catsup Premium $23...
Part 2: Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer, the joint costs of processing the tomatoes were $420,000. There was no beginning or ending inventories for the summer. Production and sales value information for the summer were as follows: Product Cases Additional Costs Selling Price Ketchup 100.000 $3.00 per case $28 per case Juice 150,000 5.00 per case $25 per case Canned 200,000 2.50 per case 10 per case Required: a....
UU PUNIS) Red Sauce Canning Company processes tomatoes into two joint products: Catsup and Tomato Juice. During the summer of 2018, the joint costs of processing the tomatoes were $4,200,000. There was no beginning or ending inventories for the summer. Production and sales information for the summer is as follows: Product Catsup Juice Production Units at Splitoff Point 100,000 cases 150,000 cases Separable Costs $300,000 $750,000 Final Sales Units 50,000 cases 100,000 cases Final Selling Price S28 per case 25...
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produces two joint products and a by-product. The joint products
are Ying and Yang, and the by-product is Bit. Marshall accounts for
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cost for the by-product. A summary of a recent month’s activity at
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The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint products are processed beyond the split-off point, incurring separable processing costs. There is a $300 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Units sold...
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