At the end of his company's first year in operation, Edward is allocating costs to the company's three main products: wheat flour, bleached white flour, and baking flour. These three products are produced from one main process, which costs the company $117,000. The company produced 4,950 pounds of wheat flour, 1,950 pounds of bleached white flour, and 8,100 pounds of baking flour. Of the quantities produced, Edward notes sales of 80%, 90%, and 60% of the wheat, white, and baking flour quantities available, respectively. Calculate how much of the joint costs will be allocated to each of the three joint products under the physical quantities method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) Allocated joint costs $ Wheat $ White $ Baking

At the end of his company's first year in operation, Edward is allocating costs to the company's three main products: wheat flour, bleached white flour, and baking flour. These three products are produced from one main process, which costs the company $117,000. The company produced 4,950 pounds of wheat flour, 1,950 pounds of bleached white flour, and 8,100 pounds of baking flour. Of the quantities produced, Edward notes sales of 80%, 90%, and 60% of the wheat, white, and baking flour quantities available, respectively. Calculate how much of the joint costs will be allocated to each of the three joint products under the physical quantities method. (Round proportion to 2 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 5,125.) Allocated joint costs $ Wheat $ White $ Baking

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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At the end of his company's first year in operation, Daniel is allocating costs to the company's three main products: wheat flour. bleached white flour, and baking flour. These three products are produced from one main process, which costs the company $\$ 121,000 $. The compamy produced 5,940 pounds of wheat flour, 7,920 pounds of bleached white flour, and 4, 140 pounds of baking flour. Of the quantities produced, Daniel notes sales of $80\%, 90% $, and $60 \% $ of the wheat, white, and baking flour quantities available, respectively. Calculate how much of the joint costs will be allocated to each of the three joint products under the physical quantities method. (Round proportion to 2 decimol places, es. 0.25 and final ansvers to 0 dedimal ploces, es. 5.125)
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As a boba manufacturer company, Ngeboba supplies boba to Gula Hula and BobaTime. Ngeboba supplies 100 kgs to Gula Hula per month and also 500 kgs to Boba Time per month. Ngeboba as one of the founders of Gula Hula and BobaTime, felt responsible for the supply of boba for both brands. Ngeboba itself has a product cost of IDR 10,000 per kilo. Ngeboba sells to other customers than Gula Hula and BobaTime for IDR 20,000 per kilogram. Gula Hula gets prices from other suppliers at IDR 17,000 per kilogram, while BobaTime gets 2,000 cheaper prices per kilogram than the price obtained by Gula Hula because it buys more. In general, Ngeboba's production capacity is 2 (two) tons per month. During the 3rd quarter, Ngeboba felt that his sales had risen drastically, so Ngeboba was faced with the following conditions: 1. Demand from customers is full up to 2 (two) tons in July because it is the dry season. With Ngeboba, they felt that they couldn't help but they need to supply Gula Hula and BobaTime.…