ntBismite Corporation purchases trees from Cheney lumber and processes them up to the split – off point where two products (paper and pencil casings) emerge fromthe process. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for themonth of October:Trees processed:340 treesProduction:рaper150,000 sheetspencil casings150,000Sales:раper140,000 at $0.20 per pagepencil casings 147,500 at $0.24 per casingThe cost of purchasing 340 trees and processing them up to the split - off point to yield 150,000 sheets of paper and 150,000 pencil casings is $14,500.Bismite's accounting department reported no beginning inventory.If the sales value at split - off method is used, what is the approximate production cost for each pencil casing? (Round intermediary percentages to the nearesthundredth.)

Under the sales value at split-off point method of allocating the joint costs, the sales price is…

Bismite Corporation purchases trees from Cheney lumber and processes them up to the split - off point where two products (paper and pencil casings) emerge from the process. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October: Trees processed: 340 trees Production: раper 150,000 sheets pencil casings 150,000 140,000 at $0.20 per page 147,500 at $0.24 per casing Sales: paper pencil casings The cost of purchasing 340 trees and processing them up to the split - off point to yield 150,000 sheets of paper and 150,000 pencil casings is $14,500. Bismite's accounting department reported no beginning inventory. If the sales value at split - off method is used, what is the approximate production cost for each pencil casing? (Round intermediary percentages to the nearest hundredth )

Bismite Corporation purchases trees from Cheney lumber and processes them up to the split - off point where two products (paper and pencil casings) emerge from the process. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October: Trees processed: 340 trees Production: раper 150,000 sheets pencil casings 150,000 140,000 at $0.20 per page 147,500 at $0.24 per casing Sales: paper pencil casings The cost of purchasing 340 trees and processing them up to the split - off point to yield 150,000 sheets of paper and 150,000 pencil casings is $14,500. Bismite's accounting department reported no beginning inventory. If the sales value at split - off method is used, what is the approximate production cost for each pencil casing? (Round intermediary percentages to the nearest hundredth )

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 1MAD: Dura-Conduit Corporation manufactures plastic conduit that is used in the cable industry. A conduit...

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Bismite Corporation purchases trees from Cheney lumber and processes them up to the split-off point where two products (paper and pencil casings) emerge from the process. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October: Trees processed: 320 trees Production: paper 180,000 sheets pencil casings 180,000 Sales: paper 169,000 at $0.10 per page pencil casings 177,500 at $0.13 per casing The cost of purchasing 320 trees and processing them up to the split-off point to yield 180,000 sheets of paper and 180,000 pencil casings is $13,000. Bismite's accounting department reported no beginning inventory. What are the paper's and the pencil's approximate weighted cost proportions using the sales value at split-off method, respectively?
Bismite Corporation purchases trees from Cheney lumber and processes them up to the split-off point where two products (paper and pencil casings) emerge from the process. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October: Trees processed: 300 trees Production: paper 200,000 sheets pencil casings 200,000 Sales: paper 195,000 at $0.10 per page pencil casings 195,500 at $0.16 per casing The cost of purchasing 300 trees and processing them up to the split-off point to yield 200,000 sheets of paper and 200,000 pencil casings is $12,500. Bismite's accounting department reported no beginning inventory. What is the total sales value at the split-off point of the pencil casings?
Bismite Corporation purchases trees from Cheney lumber and processes them up to the split-off point where two products (paper and pencil casings) are obtained. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October: Trees processed: 250 trees Production: paper 180,000 sheets pencil casings 180,000 Sales: paper 174,000 at $0.12 per page pencil casings 178,500 at $0.15 per casing The cost of purchasing 250 trees and processing them up to the split-off point to yield 180,000 sheets of paper and 180,000 pencil casings is $12,500. Bismite's accounting department reported no beginning inventory. What are the paper's and the pencil's approximate weighted cost…
Bismite Corporation purchases trees from Cheney lumber and processes them up to the split-off point where two products (paper and pencil casings) are obtained. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October: Trees processed: 280 trees Production: paper 160,000 sheets pencil casings 160,000 Sales: paper 147,000 at $0.10 per page pencil casings 158,500 at $0.13 per casing The cost of purchasing 280 trees and processing them up to the split-off point to yield 160,000 sheets of paper and 160,000 pencil casings is $13,000. Bismite's accounting department reported no beginning inventory. What is the total sales value at the split-off point for paper?