A company incurred $120,000 of common fixed costs and $180,000 of common variable costs. These costs are to be allocated to Departments XX and YY. Data on capacityprovided and capacity used are as follows:DepartmentXXYYCapacity Providedin Hours500300Capacity Usedin Hours400400Assume that common fixed costs are to be allocated to Departments XX and YY on the basis of capacity provided and that common variable costs are to be allocated toDepartments XX and YY on the basis of capacity used. The fixed and variable costs allocated to Department XX are:FixedVariable$75,000$112,500O b.$75,000$90,000Ос$60,000$112,500Od$60,000$90,000

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Answered: A company incurred $120,000 of common…

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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Sierra Company has two operating departments: Mixing and Bottling. Mixing occuples 26,460 square feet. Bottling occupies 17,640 square feet. Maintenance costs of $226,000 are allocated to operating departments based on square feet occupied. Determine the maintenance costs allocated to each operating department. Department Mixing Bottling Total Square Feet 0 Percent of Total % % 0.00 % Cost Allocated $ 0
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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
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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:…
10. A production department within a company received materials of $10,000 and conversion costs of $10,000 from the prior department. It added material of $27,200 and conversion costs of $53,000. The equivalent units are 20,000 for material and 18,000 for conversion. Complete the following table to determine what is the unit cost for materials and conversion? PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Costs per unit are rounded to two decimal places and shown with "$" and commas as needed (i.e. $1,234.56). All other dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). Total Cost Equivalent Units Per Unit Material ? ? ? Conversion ? ? ?
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