Home Formulas Data Insert Page Layout Review View в Corn Starch Joint Costs $321,000 Corn Syrup 2 Joint costs (costs of processing corn to splitoff point) 3 Separable cost of processing beyond splitoff point 4 Beginning inventory (cases) 5 Production and Sales (cases) 6 Ending inventory (cases) 7 Selling price per case $430,560 $94,740 12,900 6,500 $52 $25 Allocate the $321,000 joint costs using the NRV method. Required

Home Formulas Data Insert Page Layout Review View в Corn Starch Joint Costs $321,000 Corn Syrup 2 Joint costs (costs of processing corn to splitoff point) 3 Separable cost of processing beyond splitoff point 4 Beginning inventory (cases) 5 Production and Sales (cases) 6 Ending inventory (cases) 7 Selling price per case $430,560 $94,740 12,900 6,500 $52 $25 Allocate the $321,000 joint costs using the NRV method. Required

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 9CE: Refer to Cornerstone Exercise 7.7. Assume that Orchard Fresh. Inc., uses the...

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Question 8 Sweeney Company is one of the world’s leading corn refiners. It produces two joint products—corn syrup and corn starch—using a common production process. Sweeney reported the following production and selling-price information: Corn Syrup Corn Starch Joint Costs Joint costs $321,000 Separable costs $430,560 $94,740 Beginning inventory (cases) 100 200Production (cases) 12,900 6,500 Sales (cases) 12,000 6,000 Selling price per case $70 $30 Using NRV method, calculate the value of ending inventory for corn syrup and gross margin for corn starch. Group of answer choices $48,514 and 28% $53,904 and 23% $11,610 and 23%…
Refer to Cornerstone Exercise 7.7. Assume that Orchard Fresh. Inc., uses the sales-value-at-split-off method of joint cost allocation and has provided the following information about the four grades of apples: Total joint cost is 18,000. Required: 1. Allocate the joint cost to the four grades of apples using the sales-value-at-split-off method. (Carry out the percent calculations to four significant digits. Round all cost allocations to the nearest dollar.) 2. What if the price at split-off of Grade B apples increased to 1.20 per pound? How would that affect the allocation of cost to Grade B apples? How would it affect the allocation of cost to the remaining grades?
Transcribed Image Text:Question 7:A lorry load of material of mixed goods was purchased for $.1,00,000 Later on these were sorted out into the following categories: Category A :1,000 units - Selling price, $.20 per unit.. Category B: 2,000 units - Selling price, $.22.50 per unit Category C:2,400 units - Selling price $.25 per unit. Find out the purchase rate per unit of each category of the material assuming that all grades yield the same rate of profit.
A firm buys and sell two models, P and Q. The following unit’s cost are available (all figures are in GHc and all the cost are borne by the firm). P Q Purchase 100 200 Delivery cost from supplier 20 30 Delivery costs to customer 22 40 Packaging costs 15 18 Selling price 150 300 Required: calculate the figure to be included in closing inventory for a unit each model, according o IAS 2 Inventories.
Process or Sell Product J19 is produced for $3.36 per gallon. Product J19 can be sold without additional processing for $4.16 per gallon, or processed further into Product R33 at an additional cost of $0.41 per gallon. Product R33 can be sold for $4.52 per gallon. a. Prepare a differential analysis dated April 30 on whether to sell Product J19 (Alternative 1) or process further into Product R33 (Alternative 2). Round your answers to the nearest cent. If required, use a minus sign to indicate a loss. Differential Analysis Sell Product J19 (Alt. 1) or Process Further into Product R33 (Alt. 2) April 30 SellProduct J19(Alternative 1) ProcessFurther intoProduct R33(Alternative 2) DifferentialEffects(Alternative 2) Revenues, per unit Costs, per unit Profit (loss), per unit
Process or Sell Product J19 is produced for $3.48 per gallon. Product J19 can be sold without additional processing for $4.05 per gallon, or processed further into Product R33 at an additional cost of $0.46 per gallon. Product R33 can be sold for $4.34 per gallon. a. Prepare a differential analysis dated April 30 on whether to sell Product J19 (Alternative 1) or process further into Product R33 (Alternative 2). If required, round your answers to the nearest whole dollar. Differential Analysis Sell Product J19 (Alt. 1) or Process Further into Product R33 (Alt. 2) April 30 Sell Product J19 (Alternative 1) Process Further into Product R33 (Alternative 2) Differential Effect on Income (Alternative 2) Revenues, per unit $fill in the blank e360ac058fa6fb3_1 $fill in the blank e360ac058fa6fb3_2 $fill in the blank e360ac058fa6fb3_3 Costs, per unit fill in the blank e360ac058fa6fb3_4 fill in the blank e360ac058fa6fb3_5 fill in the blank e360ac058fa6fb3_6 Income (loss),…
Process or Sell Product A is produced for $3.58 per pound. Product A can be sold without additional processing for $4.1 per pound or processed further into Product B at an additional cost of $0.47 per pound. Product B can be sold for $4.4 per pound. Prepare a differential analysis dated November 15 on whether to sell A (Alternative 1) or process further into B (Alternative 2). If required, round your answers to the nearest whole dollar. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Differential Analysis Sell Product A (Alt. 1) or Process Further into Product B (Alt. 2) November 15 Sell Product A(Alternative 1) Process Furtherinto ProductB (Alternative 2) Differential Effecton Income(Alternative 2) Revenues, per unit $fill in the blank 50d2fef42fcd026_1 $fill in the blank 50d2fef42fcd026_2 $fill in the blank 50d2fef42fcd026_3 Costs, per unit fill in the blank 50d2fef42fcd026_4 fill in the blank 50d2fef42fcd026_5 fill in…
Sales per unit P15.00Variable production cost 8.00Annual fixed production cost 35,000.00Variable selling expense (unit) 3.00Annual fixed selling expense 15,000.00Produced 12,500 units during the periodNo inventory at January 1 (beg.)Sold 10,000 units 21. The ending inventory under direct costing isa. P25,000 b. P27,500 c. P20,000 d. P32,500 22. Ending inventory under absorption costing isa. P32,500 b. P20,000 c. P25,000 d. P27,000
Accounting Question 7 KLP Products Co. produces 2 joint products. Joint cost = $2,000. These products can be processed further after split – off point. Data for the current period are: Products Sales value At split - off Separable costs Final Sales value after further Processing D $1,000 $2,000 $3, 800 E $200 $600 $700 Required: Determine which product KLP Co. should sell at the split-off point and which product KLP Co. should process further.
Multiproduct Company produces 3 products. PRODUCT 1 PRODUCT 2 PRODUCT 3 Price/unit $5 $6 $7 Variable cost/unit 3 2 4 Expected Sales (units) 100,000 150,000 250,000 Total fixed costs for the company are $1,240,000. Prepare an Income Statement using the format used in class (and in the text for sales mix) for the 3 products above and the company as a whole. Assuming the product mix would be the same at the break-even point as above, compute the Break-even point in sales dollars. ( use 3 decimal points to calculate CM% ie. .105 = 10.5%) Explain what would happen to the overall contribution ratio…
Process or Sell Product A is produced for $3.54 per pound. Product A can be sold without additional processing for $4.14 per pound or processed further into Product B at an additional cost of $0.45 per pound. Product B can be sold for $4.58 per pound. Prepare a differential analysis dated November 15 on whether to sell A (Alternative 1) or process further into B (Alternative 2). If required, round your answers to the nearest whole dollar. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Differential Analysis Sell Product A (Alt. 1) or Process Further into Product B (Alt. 2) November 15 Sell Product A(Alternative 1) Process Furtherinto Product B (Alternative 2) Differential Effect on Income (Alternative 2) Revenues, per unit $fill in the blank 694e3df9c00701f_1 $fill in the blank 694e3df9c00701f_2 $fill in the blank 694e3df9c00701f_3 Costs, per unit fill in the blank 694e3df9c00701f_4 fill in the blank 694e3df9c00701f_5 fill…
1. Process or Sell Product A is produced for $3.38 per pound. Product A can be sold without additional processing for $4.02 per pound or processed further into Product B at an additional cost of $0.44 per pound. Product B can be sold for $4.34 per pound. Prepare a differential analysis dated November 15 on whether to sell A (Alternative 1) or process further into B (Alternative 2). If required, round your answers to the nearest whole dollar. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Accept Business at Special Price Product R is normally sold for $43 per unit. A special price of $32 is offered for the export market. The variable production cost is $24 per unit. An additional export tariff of 15% of revenue must be paid for all export products. Assume that there is sufficient capacity for the special order. Prepare a differential analysis dated March 16, on whether to reject (Alternative 1) or accept (Alternative 2) the special…