17ointsSplit Corporation manufactures products X, Y, and Z from a joint production process. Joint costs are allocated to products based on relative sales value of the products at the split-off point. Additional information is as follows:Units producedAllocated joint costsSales value at split-off01:39:59Sales value if processed furtherAdditional costs for further processingProduct X's sales value at the split-off point is:26,000$ 161,280ZTotal22,000$ 108,00018,000$180,00066,000$449,280?150,00066,000250,000624,00046,000186,000341,000279,000 1,268,00074,000648,0000Multiple Choice$156,000.$19,000.$190,000$224,000$117,000.

To determine the sales value at the split-off point for Product X, we need to understand the…

Answered: 17 oints Split Corporation manufactures…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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Problem 5. Sell-as-is or process further a product-2. Hurricane Corporation produces three products at segregation point, Poh, Taeh, and Toh. These products could be processed further then later sold at higher sales value. The total joint cost in manufacturing these three products was P3 million. The data below were made available by the accounting and production personnel: Taeh 40,000 units P 100 Poh 10,000 units P 80 90 Toh 50,000 units P 200 Production and sales Unit sales price at split-off point 120 18 Unit sales price after further processing Unit variable costs of subsequent process If product Poh is processed further, an equipment shall be rented at a cost of P12,000. To process further product Taeh an outside contractor will be engaged for an amount of P90,000 because the company has no available space and manpower for its subsequent processing. Product Toh could be subsequently processed by using idle machine and manpower time within the company. The total set-up cost of…
1
Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: If Processed Further Sales Value at Additional Product Chem-1 Chem-2 Units Produced 291,000 Split-Off Costs Sales Values $ 223,000 $ 33,000 $ 263,000 179,000 Chem-3 195,000 Chem-4 147,000 812,000 267,000 152,600 249,400 29,700 293,000 25,200 183,000 26,600 273,000 $ 892,000 $ 114,500 $ 1,012,000 Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Product NRV at Split- Off Joint Costs Allocated Chem-1 Chem-2 Chem-3 Chem-4
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PQ Group PQ Group comprises two divisions: P and Q. Division P manufactures a product which is transferred to Division Q, where it is converted into the final product for external sale. One unit of the intermediate product is used to make one unit of the final product. The costs of each division are as follows: P Division Q Division Variable cost per unit £2 £5* Fixed costs attributable to the product £2,000 £10,000 Maximum capacity 2,250 2,250 * excluding the cost of the transferred item Market research has produced the following information about possible levels of sales of the final product at a range of prices: Selling price (£) Sales (units) 25.00 1,500 23.50 1,750 22.00 2,000 20.50 2,250 The transfer price for the intermediate product has been set on a full cost-plus basis at £4. Complete the following statements for each Division: Division P Output (units) Revenue £ Variable costs £ Fixed…
am. 113.
Joint Cost Allocation—Physical Units Method Board-It, Inc., produces the following types of 2 × 4 × 10 wood boards: washed, stained, and pressure treated. These products are produced jointly until they are cut. One batch produces 45 washed boards, 35 stained boards, and 20 pressure treated boards. The joint production process costs a total of $710 per batch. Using the physical units method, allocate the joint production cost to each product. Round your answers to two decimal places.
Question No. 4 HASF Corporation manufactures products A, B, and C from a joint process. Joint costs are allocated on the basis of relative sales value at the end of the joint process. Additional information for HASF are as follows: B Total Units produced 24,000 Joint costs 240,000 Sales value before additional processing 400,000 Additional costs for further processing 12,000 Sales value if processed further 470,000 12,000 8,000 4,000 144,000 60,000 36,000 240,000 100,000 60,000 28,000 20,000 60,000 280,000 120,000 70,000 Required: a. Which, if any, of products A, B, and C should be processed further and then sold? b. Keeping in view the answer of "part a", write down your critical feedback to support your answer (Word limit Max 200)

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