15. Gdyan, Inc. which manufactures products X,Y and Z from a joint process. Joint product cost were P60,000. Additional information is provided below: Product Units Sales If Processed Further Produced Value at Sales Additional Split-Off P40,000 Values Costs 6,000 P55,000 P9,000 Y 4,000 35,000 45,000 7,000 2,000 25,000 30,000 5,000 Assuming that joint product costs are allocated using the physical measures (units produced) approach, what were the total cost allocated to product X? a. P27,000 b. Р29,000 c. P33,000 d. Р39,000

15. Gdyan, Inc. which manufactures products X,Y and Z from a joint process. Joint product cost were P60,000. Additional information is provided below: Product Units Sales If Processed Further Produced Value at Sales Additional Split-Off P40,000 Values Costs 6,000 P55,000 P9,000 Y 4,000 35,000 45,000 7,000 2,000 25,000 30,000 5,000 Assuming that joint product costs are allocated using the physical measures (units produced) approach, what were the total cost allocated to product X? a. P27,000 b. Р29,000 c. P33,000 d. Р39,000

Name: 15. Gdyan, Inc. which manufactures products X,Y and Z from a joint pr
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: 15. Gdyan, Inc. which manufactures products X,Y and Z from a joint process. Joint product cost wereP60,000. Additional information is provided below:UnitsProducedIf Processed FurtherProductSalesValue atSalesAdditionalSplit-OffP40,000Values Costs6,00

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

See similar textbooks

Similar questions

The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
HASF Corporation manufactures products A, B, and C from a joint process. Joint costs are allocated on the basis of relative sales value at the end of the joint process. Additional information for HASF are as follows: A B C Total Units produced 12000 8000 4,000 24,000 Joint costs 144000 60,000 36,000 240,000 Sales value before additional processing 240000 100,000 60,000 400,000 Additional costs for further processing 28000 20,000 12,000 60,000 Sales value if processed further 280000 120,000 70,000 470,000 Required: Which, if any, of products A, B, and C should be processed further and then sold? Keeping in view the answer of "part a", write down your critical feedback to support your answer
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total unit cost of Product B? P10.42 P10.49 P10.92 P11.00
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the entity uses average unit costs method in joint products and the net proceeds of sale of by-products are presented as additional revenue of the main products, what is the total unit cost of Product A? P11.50 P12.16 P12.21 P12.26
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the entity uses average unit costs method in joint products, the reversal costs method in by products and there are no inventory on hand, what is the total net profit? P432,836 P438,300 P438,589 P439,026
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total cost of goods sold of main products? P478,474 P479,465 P481,164 P483,011
The Trece Co. manufactures joint products X and Y as well as by-product Z. Cumulative costs data for the period show P204,000 representing 20,000 units completed processed through the Refining Department at an average cost of P10.20. Costs are assigned to X and Y by the market value method which considers further processing costs in subsequent operations. Additional data: Z X Y Quantity processed 2,000 units 8,000 units 10,000 units Sales price per unit P5 P20 P25 Further processing cost per unit 1 5 7 Marketing and administrative expense per unit 1 Operating profit per unit 1 Required: a. Assuming by-product value is material determine the joint cost allocated to Z using Net realizable value method and joint cost to X and Y. b. Assuming by-product value is immaterial and insignificant, what is the joint cost allocated to X and Y.
Cash Co makes AA and CC from a basic raw materials. For the year 2020, the all inclusive cost of the basic process amounted to P960 000 which was allocated on the basis of relative number of units produced. Additional data for the year 2020 are given below: AA CC Unit Produced 160000 80000 Unit selling price at split off P 5 7 unit selling price after additional process P 8 14 Additional Processing Cost P 640000 400000 Required The all-inclusive joint cost should be allocated to CC on what ratio (Convert to percentage and round off to two decimal places.) The all-inclusive joint cost should be allocated to AA on what ratio (Convert to percentage and round off to two decimal places.)
2. ABC Company uses a joint process to produce products A, B, and C. The joint production costs for 201Awere 500,000 and were allocated using relative sales value at the split-off point method.Each product may be sold at its split-off point or processed further. Additional processing costs are entirelyvariable.ProductsSales Value atSplit-offAdditionalProcessingCostsFinal SalesValueA P300,000 P130,000 420,000B 120,000 100,000 230,000C 250,000 140,000 400,000P670,000 P370,000 P1,050,000 a. To maximize profit, which product/s should be sold at split-off point and be processed further,respectively?b. If the alternative were to sell at split-off point or to process further all products, which alternativewould be recommended?
The Trece Co. manufactures joint products X and Y as well as by-product Z. Cumulative costs data for the period show P204,000 representing 20,000 units completed processed through the Refining Department at an average cost of P10.20. Costs are assigned to X and Y by the market value method which considers further processing costs in subsequent operations.Additional data: Z X YQuantity processed 2,000 units 8,000 units 10,000 unitsSales price per unit P5 P20 P25Further processing cost per unit 1 5 7Marketing and administrativeexpense per unit 1Operating profit per unit 1 Required:a. Assuming by-product value is material determine the joint cost allocated to Z using Net realizable value method and joint cost to X and Y.b. Assuming by-product value is immaterial and insignificant,…
A Chemical Company manufactures joint products Pep and Vim, and a by product Zest. Costs are assigned to the joint products by the market value method, which considers further processing costs in subsequent operations. For allocating cost to the by-product, the market value or reversal cost method is used. Total manufacturing costs for 10,000 units were P172,000 during the quarter. Production and cost data follow: Pep Vim Zest Unit Produced 5000 4000 1000 Sales price per unit 50 40 5 Further processing cost per unit 10 5 0 Selling and adm. Expense per unit 0 0 2 operating profit per unit 0 0 1 Required: The gross profit for pep is The value of Zest to deducted from the joint cost is
14. You are given the following Company Information Company LFrom the point of origin Direct materials 120.000Purchases of direct materials 228000Direct labour costs 610000Direct cost initial cost 780000 The stock cost of direct materials is the amount?