ESBA Company produced two joint products A and E. and by-productsand D from the same raw materials with Jointcosts P200.000. The ertityuses net realizabe value in allocatingjoirt costs to joint products. Otherinformaticin are as foilows: Units produced (20.000: 30.000: 5.000 and5.000) Unit soid (18.000. 25.000: 5.000 and 5.000): Final unit sellingprices (P25.00: P20.00. P200 and P1.50): Further processing costs(PI50.000; P210.0oC: P5.000 and P4.000); Selling and Administrativeexpenses (P15.000: P21.000: PS00 and P400): Desred profiton Cand D(P2.000 and P1500). irthenetproceeds of sale of by-products areprasented as reduetion from cost of goods sold of the main products,what is the amount of operating proft from joint products orly?P438.589PABR300P432836F430,989

Joint Product Joint Product which is described as the production process of the two or more models…

BSBA Company produced two joint producte A and E. and by-producte and D from the sameraw materials with joint costs P200.000. The erth uses net realizabie value in alocatingjoirt costs to joint products. Othe information are as folowa: Units produced (20.000. 30.000: 5.000 and 5.000) Unit soid (18.000. 25.000: 5.000 and5.000): Final unit selling prices (P25.00. P20.00. P200 ard P1.50): Further processing costs (PIS0,000; P210.0oC: P5.000 and P4.000), Seling ard Administrative expenses (P15.00O: P21.000: P500 and P400): Desired profiton Cand (P2000 and PL500). ir the net proceeds of sale of by-products are presented as reduction from cost of goods sold of the main producte, what is the amount of cperating profit from joint products orly? O Pa30519 O PABR300 PA32836

BSBA Company produced two joint producte A and E. and by-producte and D from the sameraw materials with joint costs P200.000. The erth uses net realizabie value in alocatingjoirt costs to joint products. Othe information are as folowa: Units produced (20.000. 30.000: 5.000 and 5.000) Unit soid (18.000. 25.000: 5.000 and5.000): Final unit selling prices (P25.00. P20.00. P200 ard P1.50): Further processing costs (PIS0,000; P210.0oC: P5.000 and P4.000), Seling ard Administrative expenses (P15.00O: P21.000: P500 and P400): Desired profiton Cand (P2000 and PL500). ir the net proceeds of sale of by-products are presented as reduction from cost of goods sold of the main producte, what is the amount of cperating profit from joint products orly? O Pa30519 O PABR300 PA32836

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Company produced joint products M, N and O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1,500; 2,500; 1,000); Unit Market value at split-off (P6; P10; P8); Final unit selling price (P10, P12, P15); Additional costs after split off (P3,000; P2,000; P5,000); Quantity Sold (1,200; 2,000; 800). Using the average unit cost method, what is the unit cost of Product M? P 7.80 P12.00 P 9.00 P 7.00
Company produced joint products M, N and O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1,500; 2,500; 1,000); Unit Market value at split-off (P6; P10; P8); Final unit selling price (P10, P12, P15); Additional costs after split off (P3,000; P2,000; P5,000); Quantity Sold (1,200; 2,000; 800). Using the market value at split-off method, what is the unit cost of Product O? P11.67 P 9.13 P 7.00 P 7.80
What is the joint cost allocated to product Alt if the company employs physical method? P333,333P316,667P317,333P320,000
Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The company accounts for the revenues from its by-product sales as other income. Additional information follows: DF1 DF2 BP Total Units produced 27,000 18,000 15,000 60,000 Allocated joint costs ? ? ? $ 560,000 Sales value at split-off $ 561,000 $ 187,000 $ 102,000 $ 850,000 Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated to each of the joint products DF1 and DF2 and to the by-product, BP?
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement (LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 51,000 to 91,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 81,000 units during the year at a selling price of $9.09 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 71,000 Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost Fixed cost Total cost per unit S S $1,000…
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 70,000 to 110,000 units is given below: ces Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 100,000 units during the year at a selling price of $8.80 per unit. Prepare a contribution format income statement for the year. Mc Graw Hill showers Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 70,000 Units…
Q1. DCT Corporation are in the manufacturing of soft drinks and produces three products X, Y and Z. During the year 2014, the joint costs of processing the three products were SAR 450,000. The following are the information related with production and sales value: Product Units Sales Value at Split-Off Separable Costs SAR 25 per unit SAR 21 per unit SAR 17 per unit 675,000 525,000 300,000 SAR 11.00 per unit SAR 7.00 per unit SAR 7.00 per unit Selling Price SAR 75 per unit SAR 68 per unit SAR 52 per unit X Y Allocate the joint costs to each product using the physical output method. Answer: Q2. What are "Non-routine Operating Decisions?" Examine any one non-routine operating decision with suitable example and discuss what quantitative and qualitative factors should be considered in making such decision? Answer:
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the net proceeds of sale of by-products are presented as reduction from cost of goods sold of the main products, what is the amount of operating profit from joint products only? P438,589 P438,300 P432,836 P430,989
BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200.000. Other information are as follows: Units produced (20,000: 30.000: 5.000 and 5,000): Unit sold (18,000; 25.000; 5,000 and 5,000): Final unit selling prices (P25.00; P20.00: P2.00 and P1.50); Further processing costs (P150.000: P210.000: P5,000 and P4,000); Selling and Administrative expenses (P15,000: P21.000: P500 and P400): Desired profit on C and D (P2.000 and P1.500). If the entity uses average unit costs method in joint products, the reversal costs method in by products and there are no inventory on hand, what is the total net profit? P432,836 O P438,300 P438,589 P439,026
BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25.000; 5,000 and 5,000); Final unit selling prices (P25.00; P20.00; P2.00 and P1.50); Further processing costs (P150,000: P210.000; PS,000 and P4.000); Selling and Administrative expenses (P15.000: P21,000; P500 and P400); Desired profit on C and D (P2.000 and P1.500). If the net proceeds of sale of by-products are presented as additional revenue of the main products, what is the total unit cost of Product B? O P10.42 P10 P10.49 O P11.00 BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20.000; 30.000; 5,000 and 5,000): Unit sold (18,000; 25.000:…
am. 113.
sold at P16 per unit, while the company was able to sell 600 units of the by-product. Selling and administrative expenses related to the main product amounted to P18,000. Disposal cost per unit of the by-product i hapter 14 614 allocated to Product A? P11,225 P10,525 a. b. P 8,225 P 9,525 с. d. 57. Using the net realizable value at split-off, what is the allocated joins cost to Product C? P15,605 b. a. P14,711 P15,750 d. P14,500 C. Use the following information in answering numbers 58 – 61: The J&J Chemical Company produces a product known as "VITAMIX" from which a by-products results. This by-product can be sold at P4.14 per unit. The manufacturing costs of the main product and by-product up to the point of separation for the three months ended March 31, 2018 follows: Materials Labor Overhead P50,000 40,000 30,000 The units produced were 15,000 units for the main product and 900 ume for the by-product. During the period 12,000 units of the "VITAMIX" were P1.75. is