(2) Allocate the common cost between the previous five products during November 2018 using the physical measurement method. 1-1 (degree) (3) Prepare an income statement for the five products, calculating the percentage of gross profit for each product during the month of November 2018 1-1 (degree) (4) Allocating the common cost among the previous five products during the month of November 2018 using the weights method It is likely that a detailed table will be prepared, indicating how to allocate the joint cost of (55,000 dinars). - (1 degree - 1) You have the following information: Gulf Wooden Industries Company uses oak tree wood to produce its various products, which are five products and are as follows: tables - chairs - libraries - wooden window frames - reception rooms). Note that the cost of the raw material, which is the oak wood that was used, and the costs necessary to manufacture it, amounted to (55,000 dinars) per month. November 2018. The following table shows a summary of the available data on these five products for the month of November 2018. the tables Chairs Libraries Window frames Reception rooms 6,000 5,000 5,800 4900 2,000 4,000 1,900 3,800 3,000 2,700 390 38 80 40 60 3 2 4 1 5 Statement Number of units produced Number of units sold Selling price per unit Weighted weight of units IN died Here is additional information about the company as follows: . During the company's product manufacturing operations, an incidental by-product appeared, which is a frame for artistic paintings, within a month August 2018. The company sold it for 1,200 dinars, but paid the expenses related to the incidental product For the same month, the amount is 200 dinars. During August 2018, the company classified its table product as the company's main product During that month, the art frame product was the incidental product, and the production quantity of the tables product during the month of August 2018 was 3,500 tables, of which only 3,000 tables were sold at a price of 60 dinars per table, and the share of the tables as a main product of the joint costs in the month of August was 30,000 dinars. In your opinion, how will the company’s income statement be prepared for August 2018, and the company’s net incidental by-product revenues be treated? According to the following: A - Considering the revenue of the by-product as another revenue for the company - miscellaneous revenues - 1 degree - cl) B - Considering the revenue of the by-product as a reduction of the joint cost - 1 degree - c1) T - In your opinion, which of the two previous methods does the company prefer to measure the net revenue of the by-product, and why?
(2) Allocate the common cost between the previous five products during November 2018 using the physical measurement method.
1-1 (degree)
(3) Prepare an income statement for the five products, calculating the percentage of gross profit for each product during the month of November 2018
1-1 (degree)
(4) Allocating the common cost among the previous five products during the month of November 2018 using the weights method
It is likely that a detailed table will be prepared, indicating how to allocate the joint cost of (55,000 dinars). - (1 degree - 1)
You have the following information:
Gulf Wooden Industries Company uses oak tree wood to produce its various products, which are five products and are as follows: tables - chairs - libraries - wooden window frames - reception rooms).
Note that the cost of the raw material, which is the oak wood that was used, and the costs necessary to manufacture it, amounted to (55,000 dinars) per month.
November 2018. The following table shows a summary of the available data on these five products for the month of November 2018.
the tables
Chairs
Libraries
Window frames
Reception rooms
6,000
5,000
5,800
4900
2,000
4,000
1,900
3,800
3,000
2,700
390
38
80
40
60
3
2
4
1
5
Statement
Number of units produced
Number of units sold
Selling price per unit
Weighted weight of units
IN
died
Here is additional information about the company as follows:
. During the company's product manufacturing operations, an incidental by-product appeared, which is a frame for artistic paintings, within a month
August 2018. The company sold it for 1,200 dinars, but paid the expenses related to the incidental product
For the same month, the amount is 200 dinars. During August 2018, the company classified its table product as the company's main product
During that month, the art frame product was the incidental product, and the production quantity of the tables product during the month of August 2018 was 3,500 tables, of which only 3,000 tables were sold at a price of 60 dinars per table, and the share of the tables as a main product of the joint costs in the month of August was 30,000 dinars.
In your opinion, how will the company’s income statement be prepared for August 2018, and the company’s net incidental by-product revenues be treated? According to the following:
A - Considering the revenue of the by-product as another revenue for the company - miscellaneous revenues - 1 degree - cl) B - Considering the revenue of the by-product as a reduction of the joint cost - 1 degree - c1)
T - In your opinion, which of the two previous methods does the company prefer to measure the net revenue of the by-product, and why?
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