AeroForm Industries manufactures Products A, B, C, and D through a joint process costing $24,000. The following data was collected for the year 2024: Product Sales Value at Split-Off $15,000 A B $10,000 C $25,000 D $20,000 What is the amount of joint costs assigned to Product C using the sales- value-at-split-off method? a. $6,000 b. $9,571 c. $7,500 d. $10,000

AeroForm Industries manufactures Products A, B, C, and D through a joint process costing $24,000. The following data was collected for the year 2024: Product Sales Value at Split-Off $15,000 A B $10,000 C $25,000 D $20,000 What is the amount of joint costs assigned to Product C using the sales- value-at-split-off method? a. $6,000 b. $9,571 c. $7,500 d. $10,000

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 13P: Venezuela Oil Inc. transports crude oil to its refinery where it is processed into main products...

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Use the following information to answer questions 7 through 9: A joint production process that cost $240,000 generated two main products. P1 has 15,000 units and can be sold at the split-off point for $300,000. P2 has 25,000 units and can be sold at the split-off point for $200,000. A by-product can be sold for $30,000. a. $120,000 7. Using the net realizable value method, how much of the joint costs would be allocated to P1? b. $144,000 c. $156,000 d. $183,000 8. Using the physical quantities method, how much of the joint costs would be allocated to P1? a. $90,000 b. $120,000 c. $150,000 d. $180,000 9. If the sale value of the by-product is deducted from the joint costs of the main products, how much is Pl's share of the total costs? a. $126,000 b. $216,000 C $105,000 d. $184,000 10. The relevant data for deciding whether to process further are: Additional revenue after further processing. b. Joint costs. Additional costs of processing further. d. Both a, and c 11. Which of the…
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The Armstrong Company uses a joint process to produce products A, B, C, and D. Each product may be sold at its split-off point or processed further. Joint processing costs for a single batch of joint products are $120,000. Other relevant data are: Additional Sales Value Sales Value at Product Processing After Split-Off Costs Processing A $25,000 $12,000 $48,000 B 24,000 16,000 36,000 C 44,000 28,000 70,000 D 17,000 10,000 32,000 Determine when each product should be sold. Show calculations to support your answers.
VE The G-Lab Company produced three joint products at a joint cost of $150,000. Two of these products were processed further. Production and sales were: K Product Sales Additional Processing Costs 200,000 0 100,000 If joint costs are allocated based on relative weight of the outputs and all products are main products, how much of the joint costs would be allocated to product A? (Do not round intermediary calculations. Round final answer to the nearest cent) A B с Weight 100,000 lbs 200,000 lbs 300,000 lbs. OA $25,000.00 B. $100,000.00 OC. $75,000.00 OD. $81,666.67 245,000 30,000 175,000
ats Assume a company has three products-A, B, and C-that emerge from a joint process. The joint processing costs that are incurred up to the split-off point equal $1,200,000. The selling prices and outputs for each product at the split-off point are as follows: Product A B С Selling Price $33 per pound $29 per pound $24 per pound Product A B C Each product can be processed further beyond the split-off point. The additional processing costs for each product and their respective selling prices after further processing are as follows: Output 14,000 pounds 18,000 pounds 19,000 pounds Additional Processing Costs $65,000 $72,000 $88,000 Selling Price $37 per pound $34 per pound $30 per pound The company is trying to decide whether to retain or discontinue the entire joint manufacturing process. What is the financial advantage (disadvantage) of continuing to operate the entire joint manufacturing process?
Joint products A and B emerge from common processing that costs $114,000 and yields 3,800 units of Product A and 2,600 units of Product B. Product A can be sold for S 260 per unit. Product B can be sold for $190 per unit. How much of the joint cost will be assigned to Product A if joint costs are allocated on the basis of relative sales values? a. $71000 b. $76000 c. $73500 d. $66000
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Assume a company has two products-A and B-that emerge from a joint process. A total of 2,000 units of Product A are produced from the joint process. Product A can be sold at the split-off point for $16 per unit, or it can be processed further for an additional total cost of $16,000 and then sold for $25 per unit. What is the incremental revenue earned by further processing Product A? Multiple Choice $18,000 $8,000 $4,000 $2,000