Benjamin CompanyBenjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000.Sales priceDisposalFurtherper yard at cost per yard at processingsplit-offper yardYards split-offx 1,500Z 2,200Select one:$6.009.00a. $5,610b. $2,390c. $5,500d. $4,000$3.505.00$1.003,00Refer to Benjamin Company. Using net realizable value at split-off, what amount of joint processing cost is allocated to Product X (round to thenearest dollar)?Final saleprice peryard$7.5011.25

Joint costs means the costs incurred in producing multiple products simultaneously from the same raw…

Benjamin Company Benjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000. Yards x 1,500 2 2.200 Sales price Disposal Further per yard at cost per yard at processing split-off split-off per yard Select one: a $5,610 $6.00 9.00 b. $2.390 c. $5.500 d. $4,000 $3.50 5.00 $1.00 3.00 Refer to Benjamin Company. Using net realizable value at split-off, what amount of joint processing cost is allocated to Product X (round to the nearest dollar)? Final sale price per yard $7.50 11.25

Benjamin Company Benjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000. Yards x 1,500 2 2.200 Sales price Disposal Further per yard at cost per yard at processing split-off split-off per yard Select one: a $5,610 $6.00 9.00 b. $2.390 c. $5.500 d. $4,000 $3.50 5.00 $1.00 3.00 Refer to Benjamin Company. Using net realizable value at split-off, what amount of joint processing cost is allocated to Product X (round to the nearest dollar)? Final sale price per yard $7.50 11.25

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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17 oints Split Corporation manufactures products X, Y, and Z from a joint production process. Joint costs are allocated to products based on relative sales value of the products at the split-off point. Additional information is as follows: Units produced Allocated joint costs Sales value at split-off 01:39:59 Sales value if processed further Additional costs for further processing Product X's sales value at the split-off point is: 26,000 $ 161,280 Z Total 22,000 $ 108,000 18,000 $180,000 66,000 $449,280 ? 150,000 66,000 250,000 624,000 46,000 186,000 341,000 279,000 1,268,000 74,000 648,000 0 Multiple Choice $156,000. $19,000. $190,000 $224,000 $117,000.
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