Carla Vista produces two joint products, Coconut Milk and Coconut Meat. The company uses the leftover Coconut Skin as a by-product. All three are produced from joint costs of $78800: direct materials amounting to $53500 and another $25300 for direct labor and manufacturing overhead. Beginning inventory for all three products is zero. Information for production of the product is as follows: Product Coconut Milk Coconut Meat Coconut Skin $8030. O $3290. $2030. Units Produced in lbs O $0. 24800 13100 3290 Units Sold in lbs 20500 11100 2030 Sale Price per lb $1.30 6.20 How much in joint costs should be allocated to the by-product, using the production method? 1.00
Carla Vista produces two joint products, Coconut Milk and Coconut Meat. The company uses the leftover Coconut Skin as a by-product. All three are produced from joint costs of $78800: direct materials amounting to $53500 and another $25300 for direct labor and manufacturing overhead. Beginning inventory for all three products is zero. Information for production of the product is as follows: Product Coconut Milk Coconut Meat Coconut Skin $8030. O $3290. $2030. Units Produced in lbs O $0. 24800 13100 3290 Units Sold in lbs 20500 11100 2030 Sale Price per lb $1.30 6.20 How much in joint costs should be allocated to the by-product, using the production method? 1.00
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter19: Support Department And Joint Cost Allocation
Section: Chapter Questions
Problem 11E: Board-It, Inc., produces the following types of 2 4 10 wood boards: washed, stained, and pressure...
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