Homework Help is Here – Start Your Trial Now!
Business
Accounting
What is the share in joint cost for Products X and Y? A. 60,000 and 45,000 B. 53,933 and 47,191 C. 60.000 and 40,000 D. 40,000 and 40,000 2. What is the amount of the ending inventories of Product X and Z? A. 5,000 and 375

What is the share in joint cost for Products X and Y? A. 60,000 and 45,000 B. 53,933 and 47,191 C. 60.000 and 40,000 D. 40,000 and 40,000 2. What is the amount of the ending inventories of Product X and Z? A. 5,000 and 375

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products
Section: Chapter Questions
Problem 14E: LeMoyne Manufacturing Inc.’s joint cost of producing 2,000 units of Product X, 1,000 units of...
See similar textbooks
icon
Related questions
Question

Solution to this please!  About joint costing in accounting.

1. What is the share in joint cost for Products X and Y?
A. 60,000 and 45,000
B. 53,933 and 47,191
C. 60.000 and 40,000
D. 40,000 and 40,000

2. What is the amount of the ending inventories of Product X and Z?
A. 5,000 and 375
B. 5,833 and 5,900
C. 5,000 and 5,900
D. 5,833 and 500

HBC MANUFACTURING Company manufactures products X, Y and Z from a joint process. Additional information is as follows: Total 24,000 Product X Product Y Product Z Units produced 12,000 ? 4,000 P 120,000 P 178,000 P 29,000 P 269,000 1,900 Joint costs ? ? ? Sales value at split-off Further processing cost P 80,000 P 10,000 P 130,000 P 28,000 P 5,000 P 35,000 ? P 14,000 P 104,000 Final sales value Units on hand 1,000 800 100 Joint costs were allocated using the estimated net realizable value approach.
Transcribed Image Text:HBC MANUFACTURING Company manufactures products X, Y and Z from a joint process. Additional information is as follows: Total 24,000 Product X Product Y Product Z Units produced 12,000 ? 4,000 P 120,000 P 178,000 P 29,000 P 269,000 1,900 Joint costs ? ? ? Sales value at split-off Further processing cost P 80,000 P 10,000 P 130,000 P 28,000 P 5,000 P 35,000 ? P 14,000 P 104,000 Final sales value Units on hand 1,000 800 100 Joint costs were allocated using the estimated net realizable value approach.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Quality control
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
SEE MORE TEXTBOOKS