ales-Value-at-Split-off Method lomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are a ollows: Direct materials Direct labor Overhead $66,000 31,000 25,000 at the split-off point, a batch yields 1,600 barion, 3,200 selene, 3,100 plicene, and 3,000 corsol. All products are sold at the split-off point: barion sem 17 per unit, selene sells for $20 per unit, plicene sells for $30 per unit, and corsol sells for $39 per unit. Required: Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the fina allocations to the nearest dollar. Barion Selene Plicene Corsol Total Allocated Joint Cost 10,980 X 25,620 X 37,820 X 47,580 X 122,000 X

ales-Value-at-Split-off Method lomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are a ollows: Direct materials Direct labor Overhead $66,000 31,000 25,000 at the split-off point, a batch yields 1,600 barion, 3,200 selene, 3,100 plicene, and 3,000 corsol. All products are sold at the split-off point: barion sem 17 per unit, selene sells for $20 per unit, plicene sells for $30 per unit, and corsol sells for $39 per unit. Required: Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the fina allocations to the nearest dollar. Barion Selene Plicene Corsol Total Allocated Joint Cost 10,980 X 25,620 X 37,820 X 47,580 X 122,000 X

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Description: Sales-Value-at-Split-off MethodAlomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are asfollows:Direct materialsDirect laborOverhead$66,00031,00025,000At the

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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Happy Corp. manufactures Products A, B, C, and D from a joint process. Additional information is as follows: Market If Processed Further Units Value at Additional Market Product Produced Split-Off Costs Value A 6,000 Php 80,000 Php 7,500 Php 90,000 B 5,000 60,000 6,000 70,000 C 4,000 40,000 4,000 50,000 D 3,000 20,000 2,500 30,000 18,000 Php 200,000…
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs $13,000. None of the products can be sold at split-off, but must be processed further. Information on one batch of the three products is as follows: Further Processing Eventual Market Product Gallons Cost per Gallon Price per Gallon L-Ten 3,400 $0.50 $2.00 Triol 4,000 1.00 5.00 Pioze 2,600 1.50 6.00 Required: 1. Calculate the total revenue, total costs, and total gross profit the company will earn on the sale of L-Ten, Triol, and Pioze. Total Revenue Total Costs Total Gross Profit 42,400 V 22,600 19,800 V 2. Allocate the joint cost to L-Ten, Triol, and Pioze using the constant gross margin percentage method. Round the gross margin percentage to four decimal places and round all other computations to the nearest dollar. Product L-Ten Joint Cost Allocation
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Sales-Value-at-Split-off Method Alomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows: Direct materials $67,900 Direct labor 34,000 Overhead 25,500 At the split-off point, a batch yields 1,400 barlon, 2,600 selene, 2,500 plicene, and 3,500 corsol. All products are sold at the split-off point: barlon sells for $15 per unit, selene sells for $20 per unit, plicene sells for $26 per unit, and corsol sells for $35 per unit. Required: Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the final allocations to the nearest dollar. Allocated Joint Cost Barlon $ Selene Plicene Corsol Total $ (Note: The total of the allocated cost does not equal actual total costs to rounding.)
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Heidelberg Fabrication manufactures two products, G -09 and G-35: \table[[, G- 69, G-35], [Units produced, 18,700, 3, 740], [Direct materials cost per unit, $7,$19 C Heidelberg Fabrication manufactures two products, G-09 and G-35: G-09 6-35 Units produced 18,700 3,740 Direct materials cost per unit Machine-hours per unit $ 7 $ 19 Production runs per quarter 4 144 7 72 Production at the plant is automated and any labor cost is included in overhead. Data on manufacturing overhead at the plant follow: Machine depreciation Setup labor Materials handling Total $ 100,980 50,490 40,392 $ 191,862 Required: a. Compute the unit costs for the two products, G-09 and G-35, using the current costing system at Heidelberg (using machine-hours as the allocation basis). b. Compute the unit costs for the two products, G-09 and G-35, using the proposed ABC system at Heidelberg. Note: For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. Unit Cost G-09 G-35…
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