a int process, Joint 1. Mabait Inc., Manufactures products X, product cost were P120,000 Additional information is provided below: If processed Further Units Value at Sales Additional Product Produced Split-Off Values Cost 12,000 P80,000 P110,000 P18,000 P 90,000 P 60,000 Y 8,000 P70,000 P14,000 4,000 P50,000 P10,000 Assuming that joint product cost are allocated using the physical measure (units produced) approach, what were the total cost allocated to product X? a. P54,000 b. P58,000 с. Рб6,000 d. P78,000

a int process, Joint 1. Mabait Inc., Manufactures products X, product cost were P120,000 Additional information is provided below: If processed Further Units Value at Sales Additional Product Produced Split-Off Values Cost 12,000 P80,000 P110,000 P18,000 P 90,000 P 60,000 Y 8,000 P70,000 P14,000 4,000 P50,000 P10,000 Assuming that joint product cost are allocated using the physical measure (units produced) approach, what were the total cost allocated to product X? a. P54,000 b. P58,000 с. Рб6,000 d. P78,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

This topic is about cost allocation of joint products and by products.

1. Mabait Inc., Manufactures products X, Y and Z from a joint process, Joint
product cost were P120,000 Additional information is provided below:
If processed Further
Units
Value at
Sales
Additional
Product
Produced
Split-Off
Values
Cost
X
12,000
P80,000
P110,000
P18,000
Y
8,000
P70,000
P 90,000
P14,000
4,000
P50,000
P 60,000
P10,000
Assuming that joint product cost are allocated using the physical measure
(units produced) approach, what were the total cost allocated to product X?
a. P54,000
b. P58,000
с. Р66,000
d. P78,000
(AICPA)
2. Using the same information in No.1 and assuming that joint product costs are
allocated using the relative sales value at split-off approach, what were the
total cost allocated to product Y?
a. P54,000
b. P56,000
с. Р56,700
d. P64,400
(AICPA)
Morelang Ire
which manufo

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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
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For each of the following independent cases (A through E), compute the missing values in the table: Total Manufacturing Cost Case AB с COE D Prime Cost 6,890 11,650 Conversion Cost 11,620 7,960 20,620 Direct Materials $ 2,110 $ 2,290 1,410 3,310 Direct Manufacturing Labor Overhead 1,160 $ 3,210 1,970 3,620 7,020 3,040 9,370 5,990
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Subject: Accounting