A Units produced Processing costs after split off Units sold 8,500 P10,200 8,400 P6 9,700 P19,400 9,700 P5 6,900 P6,900 6,400 P4 Ultimate selling price per unit There were no beginning inventories, and joint cost data during the month amounted to P49,830. Using the market value method, the joint cost apportioned to each product will be

A Units produced Processing costs after split off Units sold 8,500 P10,200 8,400 P6 9,700 P19,400 9,700 P5 6,900 P6,900 6,400 P4 Ultimate selling price per unit There were no beginning inventories, and joint cost data during the month amounted to P49,830. Using the market value method, the joint cost apportioned to each product will be

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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es The Foundational 15 (Static) (LO6-1, LO6-2, LO6-3, LO6-4, LO6-5) [The following information applies to the questions displayed below.] Diego Company manufactures one product that is sold for $80 per unit in two geographic regions-the East and West regions. The following information pertains to the company's first year of operations in which it produced 40,000 units and sold 35,000 units. Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expense $24 $14 $2 $4 The company sold 25,000 units in the East region and 10,000 units in the West region. It determined that $250,000 of its fixed selling and administrative expense is traceable to the West region, $150,000 is traceable to the East region, and the remaining $96,000 is a common fixed expense. The company will continue to incur the total amount of its fixed…
am.104.
Exercise 8-4. JOINT COST ALLOCATION - MARKET VALUE METHOD SP Company produces three products: S, I and P, as the result of initial joint processing plus separable processing after the split-off point. Records for July show the following: Total P150,000 S P. Materials used 170,000 Joint processing cost Further processing costs Units produced P50,000 6,000 4,000 P 50.00 P80,000 12,000 P70,000 6,250 Units sold 9,000 4,250 Unit sales price P 37.50 P 40.00
61. Fundador Inc. makes two products, Wet and Dry, from a joint operating process. For the month of May 2021, the total joint costs of processing was P120,000 and the costs of further processing after the point of split-off, as well as other relevant data, are as follows: a. • P60,000 b. • P66,000 c. • P72,000 d. • P80,000
17. O Company produces a single product. Last year, the company had a net operating income of P92,000 using absorption costing and a net operating income of P98,600 using variable costing. If the fixed manufacturing overhead cost was P3.00 per unit for the last two years, and if production was 18,000 units, then sales in units last year were О а. 24,600 b. 20,200 с. 15,800 d. 15,000
21. Joint products A, B and C are produced by JNT Corp. For the month just ended, these data are available: a. • P2.033 b. • P1.985 c. • P2.045 d. • P2.106
! Required information The Foundational 15 (Algo) [LO6-1, LO6-2, LO6-3, LO6-4, LO6-5] [The following information applies to the questions displayed below.] Diego Company manufactures one product that is sold for $70 per unit in two geographic regions-the East and West regions. The following information pertains to the company's first year of operations in which it produced 53,000 units and sold 48,000 units. Variable costs per unit: Manufacturing: Direct materials. $ 21 Direct labor $ 10 $2 Variable manufacturing overhead Variable selling and administrative $ 4 Fixed costs per year: Fixed manufacturing overhead $ 1,060,000 $ 557,000 Fixed selling and administrative expense The company sold 36,000 units in the East region and 12,000 units in the West region. It determined that $270,000 of its fixed selling and administrative expense is traceable to the West region, $220,000 is traceable to the East region, and the remaining $67,000 is a common fixed expense. The company will continue to…
P12-4 Spain produces product AB from a process that also yields the by-product C. Spain provided the following information for the most recent fiscal year: Ending inventory Units Units sold produced 3,000 1,000 4,000 600 AB 2,400 600 400 3,000 1,000 P60 Unit selling price of AB Unit selling price of C (net of selling costs) Total manufacturing costs P10 Direct materials P20,000 Direct labor 30,000 P100,000 P30,000 Overhead 50,000 Selling and administrative expenses Required: Compute the gross margin and net income of Spain if: : a. net revenue from by-product is treated as additional revenue b. net revenue from by-product is treated as deduction from cost of goods sold C. net revenue from by-product is treated as other income d.. net revenue from by-product is treated as a deduction from total manufacturing cost · е. by-product is recognized at net realizable value
Subject - account Please help me. Thankyou.
V5
am. 116.