Homework Answers
Option A is correct.
NRV of product P = 428000
NRV of product R =300000
Joint cost allocated to R = $222000
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20. The Dynamic Company produced three joint products at a joint cost of $500,000. Two of...
The Mallak Company produced three joint products at a joint cost of $181,600. Two of these...
The Mallak Company produced three joint products at a joint cost of $181,600. Two of these products were processed further. Production and sales were: Additional Processing Costs $250,200 Product Weight Sales P 417,000 lbs. $333,600 @ 180,000 lbs. 54,000 R 180,000 lbs. 315,000 -0- 180,000 If the estimated net realizable value method is used and product Q is accounted for as a main product, how much of the joint costs would be allocated to product R? Multiple Choice 0 $78,889....
Fletcher Fabrication, Inc., produces three products by a joint production process. Raw materials are put into...
Fletcher Fabrication, Inc., produces three products by a joint production process. Raw materials are put into production in Department X, and at the end of processing in this department, three products appear. Product A is sold at the split-off point with no further processing. Products B and C require further processing before they are sold. Product B is processed in Department Y, and product C is processed in Department Z. The company uses the estimated net realizable value method of...
Fletcher Fabrication, Inc., produces three products by a joint production process. Raw materials are put into...
Fletcher Fabrication, Inc., produces three products by a joint production process. Raw materials are put into production in Department X, and at the end of processing in this department, three products appear. Product A is sold at the split-off point with no further processing. Products B and C require further processing before they are sold. Product B is processed in Department Y, and product C is processed in Department Z. The company uses the estimated net realizable value method of...
The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint...
The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $198,000. Additional information follows. Units Product Produced KA 83,000 58,100 KC 24,900 If Processed Further Sales Value at Split-off Sales Values Additional Costs $272,000 $320,000 $54,000 238,000 280,000 42,000 170,000 220,000 33,000 KB Required A Required B Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product...
Fletcher Fabrication, Inc., produces three products by a joint production process. Raw materials are put into pr...
Fletcher Fabrication, Inc., produces three products by a joint production process. Raw materials are put into production in Department X, and at the end of processing in this department, three products appear Product A is sold at the split-off point with no further processing. Products B and C require further processing before they are sold, Product B is processed in Department Y, and product C is processed in Department Z. The company uses the estimated net realizable value method of...
Garrison Co. produces three products — X, Y, and Z — from a joint process. Each...
Garrison Co. produces three products — X, Y, and Z — from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $122,000. Sales values and costs needed to evaluate Garrison's production policy follow. Units Sales Value at...
Jill makes two products out of a joint process—products Beta & Gamma. The joint (common) costs...
Jill makes two products out of a joint process—products Beta & Gamma. The joint (common) costs incurred are $800,000 for a standard production run that generates 70,000 pounds of Gamma and 30,000 pounds of Beta. Gamma sells for $9.00 per pound whereas Beta sells for $7.00 per pound. 7) If there are no additional processing costs incurred after the splitoff point, the amount of joint cost of each production run allocated to Beta on a sales value at splitoff basis...
The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a...
The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $197,000. Additional information follows: If Processed Further Product Units Produced Sales Value at Split-Off Sales Values Additional Costs KA 83,000 $ 272,000 $ 320,000 $ 53,000 KB 58,100 238,000 260,000 43,000 KC 24,900 170,000 220,000 31,000 If Processed Further Product Units Produced Sales Value at Split-Off Sales Values Additional Costs KA 83,000 $ 272,000 $ 320,000 $ 53,000...
Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing...
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...
Gusler company manufactures three products from a common input in a joint processing operation. Joint processing...
Gusler company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $98,000 per quarter. 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 $ 3 per pound 10,000 pounds B $ 6 per pound 22,000 pounds C...
The Mallak Company produced three joint products at a joint cost of $181,600. Two of these products were processed further. Production and sales were: Additional Processing Costs $250,200 Product Weight Sales P 417,000 lbs. $333,600 @ 180,000 lbs. 54,000 R 180,000 lbs. 315,000 -0- 180,000 If the estimated net realizable value method is used and product Q is accounted for as a main product, how much of the joint costs would be allocated to product R? Multiple Choice 0 $78,889....
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The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $198,000. Additional information follows. Units Product Produced KA 83,000 58,100 KC 24,900 If Processed Further Sales Value at Split-off Sales Values Additional Costs $272,000 $320,000 $54,000 238,000 280,000 42,000 170,000 220,000 33,000 KB Required A Required B Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product...
Fletcher Fabrication, Inc., produces three products by a joint production process. Raw materials are put into production in Department X, and at the end of processing in this department, three products appear Product A is sold at the split-off point with no further processing. Products B and C require further processing before they are sold, Product B is processed in Department Y, and product C is processed in Department Z. The company uses the estimated net realizable value method of...
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...
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