The Brital Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June: Direct Materials processed: 27,500 gallons Production: Butter Cream 12,000 gallons 15,500 gallons 11,500 gallons 15,000 gallons $2.00 per gallon $7.00 per gallon $15,000 Condensed Milk Butter Cream Condensed Milk Sales: Sales: Butter Cream Condensed Milk Separable costs in Butter Cream total: Condensed Milk $33,700 The costs of purchasing the of unprocessed milk and processing it up to the split - off point to yield a total of 27,500 gallons of saleable product was $70,550. The company uses constant gross - margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Butter Cream?
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- Strawberry Sweet Company makes a variety of jams and jellies. During June, 55,000 gallons of strawberry mash was processed at a joint cost of $40,000. This produced 42,000 gallons of preserve-grade mix and 4,000 gallons of Strawberry juice for jelly. The juice could be processed further into energy drinks, and the preserve mix could be processed further into ice cream flavoring. Information on these items is shown: A. Assume that the joint cost is allocated to the products based on the physical quantity of output of each product. How much joint cost should be assigned to each product? B. How much joint cost should be assigned to each product if the relative sales value allocation method is used? C. Which products should be processed further?The Alfarm Corporation processes raw milk up to the splitoff point where two products, cream and liquid skim, are produced and sold. There was no beginning inventory. The following material was collected for the month of February: Direct materials processed: 750,000 gallons (727,500 gallons of good product) Production: Cream 442,500 gallons Liquid skim 285,000 gallons Sales: Cream 421,500 at $110 per gallon Liquid skim 273,000 at $100 per gallon The cost of purchasing 750,000 gallons of direct materials and processing it up to the splitoff point to yield a total of 727,500 gallons of good product was $2,280,000. When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated to cream and liquid skim? A) $1,386,804 and $893,196 B) $1,140,000 and $1,140,000 C) $1,368,000 and $912,000 D) $1,254,00 and $1,026,000 Please don't provide answer in image format thank youThe Alfarm Corporation processes raw milk up to the split-off point where two products, cream and liquid skim, are produced and sold. There was no beginning inventory. The following material was collected for the month of February: Direct materials processed: 800,000 gallons (778,500 gallons of good product) Production: Cream 443,500 gallons Liquid skim 335,000 gallons Sales: Cream 424,500 at $13 per gallon Liquid skim 324,000 at $12 per gallon The cost of purchasing 800,000 gallons of direct materials and processing it up to the split-off point to yield a total of 778,500 gallons of good product was $2,350,000. The Alfarm Corporation uses sales value at split off point method of allocating joint costs. What is the value of ending inventory for liquid skim? If you…
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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) 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?Chem Manufacturing Company processes direct materials up to the split-off point where two products (X and Y) are obtained and sold. The following information was collected for the month of November: Direct materials processed: 10,200 gallons (10,200 gallons yield 9500 gallons of good product and 700 gallons of shrinkage) Production: X 5300 gallons Y 4200 gallons Sales: X 5050 at $300 per gallon Y 3950 at $80 per gallon The cost of purchasing 10,200 gallons of direct materials and processing it up to the split-off point to yield a total of 9500 gallons of good products was $1,050,000. The beginning inventories totaled 35 gallons for X and 400 gallons for Y. Ending inventory amounts reflected 565 gallons of Product X and 1,515,000 gallons of Product Y. October costs per unit were the same as November. Using the physical-volume method, what is Product X's…Kellogg Company manufactures cold cereal products, such as Frosted Flakes. Assume that the inventory in process on March 1 for the Packing Department included 1,200 pounds of cereal in the packing machine hopper (enough for 800 24-oz. boxes) and 800 empty 24-oz. boxes held in the package carousel of the packing machine. During March, 65,400boxes of 24-oz. cereal were packaged. Conversion costs are incurred when a box is filled with cereal. On March 31, the packing machine hopper held 900 pounds of cereal and the package carousel held 600 empty 24-oz. (1½-lb.) boxes. Assume that once a box is filled with cereal, it is immediately transferred to the finished goods warehouse.Determine the equivalent units of production for cereal, boxes, and conversion costs for March. An equivalent unit is defined as “pounds” for cereal and “24-oz. boxes” for boxes and conversion costs.