BOB COMPANY PRODUCED 3 JOINT PRODUCTS BOB Company produces three joint products from seaweed. At the split-off point, three basicproducts emerge: Sea Tea, Sea Paste, and Sea Powder. Each of these products can either be soldat the split-off point or be processed further. If they are processed further, the resulting productscan be sold as delicacies to health food stores. Cost and revenue information is as follows:Sales Value and Additional Costs if Produced FurtherPounds Produced Sales Value at Split-Off Final Sales Value Additional CostProductSea Tea9,000Sea Paste4,800$60,00071,100$90,000$35,000160,00050,000Sea Powder 2,00070,00085,00014,000Compute the incremental benefit (cost) of further processing to these products.

Concept of Joint ProductsJoint products refer to multiple products that are simultaneously derived…

Answered: BOB Company produces three joint…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 2CMA: The Chocolate Baker specializes in chocolate baked goods. The firm has long assessed the...

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Under the sales value at splitoff method, what portion of the joint costs would be allocated to Seduction and Romance, respectively?
Joint-cost allocation, sales value , physical measure, NRV methods. Tasty foods produces two types of microwavable products: beef- flavored ramen and shrimp- flavored . The two products share common inputs such as noodle and spices. The production of ramen results in a waste product referred to as stock, which tasty dumps at negligible costs in a local drainage area. In June 2017, the following data were reported for the production and sales of beef- flavored and shrimp-flavored ramen: Due to the popularity of its microwavable products, Tasty decides to add a new line of products that targets dieters. These new products are produced by adding a special ingredient to dilute the original ramen and are to be sold under the names special B and special S, respectively. Following are the monthly data for all the products:
The Bean Company provides fresh coffee beans for restaurants, hotels, and other food service companies. Bean offers three types of coffee beans: Premium, Gourmet, and Quality. Each of the three coffees is produced in a joint process in which beans are cleaned and sorted. The sorting process is the split-off point in this joint process, and the output is the three types of beans. The beans can be sold at the split-off point or processed further, with different types of roasting and additional sorting. The additional processing requires additional separable processing costs, as shown next. Separable processing requires no special facilities, and the production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processedbeyond split-off. Joint production costs for the year were $90,000,000.Sales values and costs needed to evaluate Bean’s production policy follow: Premium…
The Bean Company provides fresh coffee beans for restaurants, hotels, and other food service companies. Bean offers three types of coffee beans: Premium, Gourmet, and Quality. Each of the three coffees is produced in a joint process in which beans are cleaned and sorted. The sorting process is the split-off point in this joint process, and the output is the three types of beans. The beans can be sold at the split-off point or processed further, with different types of roasting and additional sorting. The additional processing requires additional, separable processing costs, as shown next. Separable processing requires no special facilities, and the production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $155,000,000. Sales values and costs needed to evaluate Bean's production policy follow: Pounds produced Separable processing cost Pounds…
The Bean Company provides fresh coffee beans for restaurants, hotels, and other food service companies. Bean offers three types of coffee beans: Premium, Gourmet, and Quality. Each of the three coffees is produced in a joint process in which beans are cleaned and sorted. The sorting process is the split-off point in this joint process, and the output is the three types of beans. The beans can be sold at the split-off point or processed further, with different types of roasting and additional sorting. The additional processing requires additional separable processing costs, as shown next. Separable processing requires no special facilities, and the production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $90,000,000. Sales values and costs needed to evaluate Bean's production policy follow: Premium Gourmet Quality Total Pounds produced…
The Bean Company provides fresh coffee beans for restaurants, hotels, and other food service companies. Bean offers three types of coffee beans: Premium, Gourmet, and Quality. Each of the three coffees is produced in a joint process in which beans are cleaned and sorted. The sorting process is the split-off point in this joint process, and the output is the three types of beans. The beans can be sold at the split-off point or processed further, with different types of roasting and additional sorting. The additional processing requires additional separable processing costs, as shownnext. Separable processing requires no special facilities, and the production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processedbeyond split-off. Joint production costs for the year were $90,000,000. Sales values and costs needed to evaluate Bean’s production policy follow: Required1. Determine last year’s unit cost for…
The Bean Company provides fresh coffee beans for restaurants, hotels, and other food service companies. Bean offers three types of coffee beans: Premium, Gourmet, and Quality. Each of the three coffees is produced in a joint process in which beans are cleaned and sorted. The sorting process is the split - off point in this joint process, and the output is the three types of beans. The beans can be sold at the split - off point or processed further, with different types of roasting and additional sorting. The additional processing requires additional, separable processing costs, as shown next. Separable processing requires no special facilities, and the production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split - off. Joint production costs for the year were $160,000,000. Sales values and costs needed to evaluate Bean's production policy follow: Premium Gourmet Quality Total Pounds…
Mystic Bottling Company bottles popular beverages in the Bottling Department. The beverages are produced by blending concentrate with water and sugar. The concentrate is purchased from a concentrate producer. The concentrate producer sets higher prices for the more popular concentrate flavors. A simplified Bottling Department cost of production report separating the cost of bottling the four flavors follows: Attachment Beginning and ending work in process inventories are negligible, so they are omitted from the cost of production report. The flavor changeover cost represents the cost of cleaning the bottling machines between production runs of different flavors. Prepare a memo to the production manager, analyzing this comparative cost information. In your memo, provide recommendations for further action, along with supporting schedules showing the total cost per case and cost per case by cost element.Round all supporting calculations to the nearest cent.
What is the gross margin percentage for the firm as a whole?
Charlie's Chocolate Factory manufactures chocolate bars and ships them directly to wholesalers and retailers across the country. The company has two product lines: milk chocolate bars and chocolate covered almonds. Classify the following company's expenses if the cost object is a single product line (either milk chocolate bars or chocolate covered almonds). The cost of cocoa used in the factory. Question 11 options: A) Indirect product cost. B) Direct period cost. C) Direct product cost. D) Indirect period cost.

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