-..Required informationExhibit 13-7 Santa Maria Wool Cooperative236,000Cost of wool6.Cost of separation process40,000Sales value of intermediate products at split-off point:8Undyed coarse wool125,0009.Undyed fine wool156,00010Undyed superfine wool60,00011 Costs of further processing (dyeing) intermediate products:12Undyed coarse wool50,00013Undyed fine wool60,00014Undyed superfine wool10,00015 Sales value of end products:16Dyed coarse wool170,00017Dyed fine wool207,00018Dyed superfine wool98,000< Prev曲Next >of 3.... . .DELL%24%24%24%24%24%24%24%24%24%24%244- Required informationa. What is the overall profit if all intermediate products are processed into final products?Overall profit from processing all intermediateproductsb. What is the financial advantage (disadvantage) from further processing?from further processing undyed coarse woolfrom further processing undyed fine woolfrom further processing undyed superfine wool< Prev2of 3Next >.... ......I..... .........DOLL

The cost of preparing joint goods for further usage or trade after the manufacturing process's…

4 Exhibit 13-7 Santa Maria Wool Cooperative 236,000 Cost of wool 40,000 Cost of separation process Sales value of intermediate products at split-off point: 2$ 125,000 8 Undyed coarse wool 2$ 156,000 9. Undyed fine wool 2$ 60,000 10 Undyed superfine wool 11 Costs of further processing (dyeing) intermediate products: 24 50,000 12 Undyed coarse wool $ 60,000 13 Undyed fine wool $ 10,000 14 Undyed superfine wool 15 Sales value of end products: 16 Dyed coarse wool 170,000 17 Dyed fine wool 2$ 207,000 18 Dyed superfine wool 98,000 < Prev of 3 Next ........*.... ............. %24 %24 %24 2.

4 Exhibit 13-7 Santa Maria Wool Cooperative 236,000 Cost of wool 40,000 Cost of separation process Sales value of intermediate products at split-off point: 2$ 125,000 8 Undyed coarse wool 2$ 156,000 9. Undyed fine wool 2$ 60,000 10 Undyed superfine wool 11 Costs of further processing (dyeing) intermediate products: 24 50,000 12 Undyed coarse wool $ 60,000 13 Undyed fine wool $ 10,000 14 Undyed superfine wool 15 Sales value of end products: 16 Dyed coarse wool 170,000 17 Dyed fine wool 2$ 207,000 18 Dyed superfine wool 98,000 < Prev of 3 Next ........*.... ............. %24 %24 %24 2.

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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2 7:21 ces ! Required information M4-10 to M4-12 Lakeside Incorporated manufactures four lines of remote control boats and uses activity-based costing to calculate product cost. Activity Pools Machining Setup Quality control Estimated Total Cost Estimated Cost Driver $ 639,600 20,500 machine hours 500 batches 950 inspections M4-12 (Algo) Assigning Costs Using Activity Proportions [LO 4-5] Cost Pool Required: Suppose the Luxury boat requires 8,200 machine hours, 100 batches, and 247 inspections. Using activity proportions, determine the amount of overhead assigned to the Luxury product line. Note: Round your final answers to the nearest whole number. Machining Setup Quality Control Total Overhead 101,625 157,700 Allocated Overhead
Chapter 23, Question 2
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Question Content Area Prior to installing a JIT system, Grindstone Company used machine hours to assign maintenance costs to its three products of 4-inch, 6-inch, and 9-inch insulation. The maintenance costs totaled $432,000 per year. The machine hours used by each product and the quantity produced of each product are as follows: Machine Hours Quantity Produced 4-inch 5,000 15,000 rolls 6-inch 12,000 12,500 rolls 9-inch 7,000 11,200 rolls After installing JIT, three manufacturing cells were created, and the cell workers were trained to perform maintenance. Maintenance costs for the three cells still totaled $432,000; however, these costs are now traceable to each cell. Cell, 4-inch $125,000 Cell, 6-inch 175,000 Cell, 9-inch 165,000 The maintenance cost per roll of 9-inch insulation before JIT is installed would be a. $14.00. b. $11.25. c. $7.75. d. $30.00.
Problem 9 Comely Products manufactures three products R, S and T, in a joint Process. For every ten kilos of raw materials input, the output is five kilos of R, three kilos of S and two kilos of T. During August, 50,000 kilos of raw materials costing P120,000 were processed and completed, with joint conversion costs of P200,000. Conversion costs are to be allocated to the products on the basis of market values. To make the products saleable, further processing which does not require additional raw materials was done at the following costs: Further processing cost Selling Price Product R P30,000 P10.00 Product S P20,000 P12.00 Product T P30,000 P15.00 Assuming that all units are sold, the gross margin on sales for Product S is
Problem 1 Purchase price of raw materials P100,000 Rebates on raw material purchases Import taxes Local taxes paid in relation to the purchase 1,500 Freight-in 12% VAT on the purchase price Interest expense related to the purchase 3,200 Utilities used on factories to 0, Wages of factory personnel Salaries of accountants 000 Depreciation of factory equipment Depreciation of the head office 00 00 2,800 Normal losses during production Abnormal losses during production General and administrative expenses Storage costs of work-in-process inventories Storage costs of finished goods inventories 00 00 Shipping costs on sale of finished goods How much is the total cost of inventories?
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Question 3 Tools & More uses three departments to produce plastic handles for screwdrivers. Forming the handles require mixing the raw materials, molding and drying. After the drying process, the screwdrivers are completed by assembling the handles and the shanks and packing for shipment. The following information relates to the molding process: There was no opening WIP stock 5,000 kilos of material at $43.08 per kilo entered the process Direct materials added $92,000 Direct wages incurred 65,700 Production overhead 75,100 Normal loss is 4% of input A quality control check was done at the end of the molding process and 350 handles were rejected as spoilage. Spoiled units, regardless of their degree of completion, are sold at $45.00 each, and it is company's policy to credit the process account with the scrap value of the normal loss units. Closing WIP was 800 units but these were incomplete, having reached the following percentages of completion for each of the elements of cost listed…