2. Show your solution in good accounting form Compute for the joint cost allocated to Reta.Land Company produces joint products Jana andReta, together with by-product Bynd. Jana is sold atsplit-off, but Reta and Bynd undergo additionalprocessing. Production data pertaining to theseproFicts follow:JanaRetaByndTotalJoint costs:VariableFixedP88,000148,000Separable costs:VariableP3,0001,0001,00010,000P 1.10There is no beginning or ending inventories.P120,00090,000123,00092,000FixedProfitProduction (lbs.)Sales price/lbs.50,000P 4.0040,000P 7.50100,000Nomaterials are spoiled in production.Your answer

Joint costs are the combined costs incurred in the production of two or more products produced…

Answered: e joint cost allocated to Reta

Business

Accounting

e joint cost allocated to Reta

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...

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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?
I need answers to the following questions: Fritz Co. Produces 2 Products "Maria and Rose" , and 1 by-product "Sina" Total Joint Cost is P3,840,000. The by product however would need an additional cost of P180,000 to fully utilize Sina. The Cost is allocated based on Net Realizable Value method, while the by Product will be accounted for using the Cost Reduction Method. How much is the Adjusted Joint Cost? This will pertain to #12 to #15 (IMAGE) Using the NRV Method, How much cost would be allocated to Maria? Using the NRV Method, How much cost would be allocated to Rose? How much is the total Gain in the by product if the Company opted for the Sales Method?
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Bee Dee Fee Company manufactures three products: A, B and C from a joint process. The following information is available for the year 2010: A B C Total Units produced Joint cost allocation Sales value at split-off 12,000 ? 208,000 28,000 36,800 ? 60,000 ? ? 100,000 160,000 520,000 Answer the following: 1. Allocate the joint costs using the Physical Unit Method 2. Allocate the joint costs using the Relative Sales Value Method
Company has decided to use the high-low method to estimate the total cost andthe fixed and variable cost components of the total cost. The data for various levels ofproduction are as follows:Units Produced Total Costs8,100 $525,00011,250 630,00018,100 690,000a. Determine the variable cost per unit and the total fixed cost.b. Based on part (a), estimate the total cost for 15,000 units of production.