BSBA Company produced two joint products A and B, and by-products Cand D from the same raw materials with joint costs P200,000. Otherinformation are as follows: Units produced (20.000; 30.000; 5.000 and5.000): Unit sold (18,000; 25,000; 5.000 and 5.000): Final unit sellingprices (925.00; P20.00; P2.00 and P1.50): Further processing costs(P150.000; P210.000: P5.000 and P4,000): Selling and Administrativeexpenses (P15.000; P21.000; P500 and P400); Desired profit on C and D(P2.000 and P1.500). If the entity uses average unit costs method in jointproducts and the reversal costs method in by products, what is the totalunit cost of Product B?*P10.42P10.49P10.92P11.00BSBA Company produced two joint products A and B, and by-products Cand D from the same raw materials with joint costs P200,000. Otherinformation are as follows: Units produced (20,000; 30.000; 5.000 and5,000): Unit sold (18,000; 25,000; 5,000 and 5.000): Final unit sellingprices (P25.00; P20.00; P2.00 and P1.50); Further processing costs(P150,000; P210,000; P5,000 and P4,000): Selling and Administrativeexpenses (P15,000; P21,000; P500 and P400): Desired profit on C and D(P2.000 and P1,500). If the entity uses average unit costs method injointproducts and the reversal costs method in by products, what is the totalcost of goods sold of main products?O P478,474P479,465P481,164P483,011

Working notes: Profit of By product 1: Selling value:5000*2=10000 Selling expenses =500…

BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200.000. Other information are as follows: Units produced (20,000; 30.000; 5.000 and 5,000); Unit sold (18,.000; 25,000: 5,000 and 5,000): Final unit selling prices (925.00; P20.00; 2.00 and P1.50): Further processing costs (P150,000; P210,000; P5,000 and P4,000): Selling and Administrative expenses (P15.000; P21,000; P500 and P400); Desired profit on Cand D (P2.000 and P1.500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total unit cost of Product B?* O P10.42 O P10.49 O P10.92 O P11.00

BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200.000. Other information are as follows: Units produced (20,000; 30.000; 5.000 and 5,000); Unit sold (18,.000; 25,000: 5,000 and 5,000): Final unit selling prices (925.00; P20.00; 2.00 and P1.50): Further processing costs (P150,000; P210,000; P5,000 and P4,000): Selling and Administrative expenses (P15.000; P21,000; P500 and P400); Desired profit on Cand D (P2.000 and P1.500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total unit cost of Product B?* O P10.42 O P10.49 O P10.92 O P11.00

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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BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000, Other information are as follows: Units produced (20.000; 30,000; 5.000 and 5.000): Unit sold (18.000; 25,000: 5,000 and 5.000): Final unit selling prices (P25.00: P20.00; P2.00 and P1.50): Further processing costs (P150,000: P210,00O; P5,000 and P4,000): Selling and Administrative expenses (P15.000; P21,000; P500 and P400): Desired profit on C and D (P2.000 and P1.500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total unit cost of Product B?* P10.42 P10.49 P10.92 P11.00
Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows. Units Product Produced 54,600 39,000 W-10 W-20 W-30 W-40 Product 31, 200 31, 200 156,000 W-10 W-20 W-30 W-40 Sales Value at Split-Off $324,000 279,000 189,000 144,000 $936,000 Required: Assuming that total joint costs of $327,600 were allocated using the physical quantities method, what joint costs were allocated to each product? (Do not round intermediate calculations.) Joint Costs Allocated If Processed Further S 114,300 $ 91,800 $ 73,800 $ 73,800 Additional Costs $ 35,000 27,900 18,900 11,700 $ 93,500 Sales Values $ 355,000 324,000 234,000 156,000 $1,069,000
Company produced joint products M, N and O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1,500; 2,500; 1,000); Unit Market value at split-off (P6; P10; P8); Final unit selling price (P10, P12, P15); Additional costs after split off (P3,000; P2,000; P5,000); Quantity Sold (1,200; 2,000; 800). Using the average unit cost method, what is the unit cost of Product M? P 7.80 P12.00 P 9.00 P 7.00
Company produced joint products M, N and O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1,500; 2,500; 1,000); Unit Market value at split-off (P6; P10; P8); Final unit selling price (P10, P12, P15); Additional costs after split off (P3,000; P2,000; P5,000); Quantity Sold (1,200; 2,000; 800). Using the market value at split-off method, what is the unit cost of Product O? P11.67 P 9.13 P 7.00 P 7.80
ompany XYZ produced and sold $1,000 units. The total direct materials cost was $1,000, the direct labor cost was $15,000, the manufacturing overhead cost was $5,000. The variable selling and administrative cos as $11,000 while the fixed selling and administrative expenses was $3,000. How much is the unit product cost in (S)? elect one: O a. None of the given answers O b. 35 O c21 O d. 16 O e. 32
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $190,000: Product Units Produced and Sold After Split-Off Total Separable Costs Total Final Sales Value M 17,000 $ 18,800 $ 230,000 N 11,000 16,400 210,000 T 12,000 3,800 39,000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method?
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the net proceeds of sale of by-products are presented as reduction from cost of goods sold of the main products, what is the amount of operating profit from joint products only? P438,589 P438,300 P432,836 P430,989
BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200.000. Other information are as follows: Units produced (20,000: 30.000: 5.000 and 5,000): Unit sold (18,000; 25.000; 5,000 and 5,000): Final unit selling prices (P25.00; P20.00: P2.00 and P1.50); Further processing costs (P150.000: P210.000: P5,000 and P4,000); Selling and Administrative expenses (P15,000: P21.000: P500 and P400): Desired profit on C and D (P2.000 and P1.500). If the entity uses average unit costs method in joint products, the reversal costs method in by products and there are no inventory on hand, what is the total net profit? P432,836 O P438,300 P438,589 P439,026
This is another cost accounting problem
Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $594,000. Additional information follows: Product Units Produced Sales Value at Split-Off If Processed Further Additional Costs Sales Values Chem-1 264,000 $ 200,640 $ 29,040 $ 237,600 Chem-2 176,000 264,000 28,160 288,640 Chem-3 200,000 156,000 24,000 187,500 Chem-4 160,000 272,000 28,800 300,000 800,000 $ 892,640 $ 110,000 $ 1,013,740 Required: Barrett Chemicals uses the physical quantities method to allocate joint costs. What joint costs would be allocated to each product in May?
BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25.000; 5,000 and 5,000); Final unit selling prices (P25.00; P20.00; P2.00 and P1.50); Further processing costs (P150,000: P210.000; PS,000 and P4.000); Selling and Administrative expenses (P15.000: P21,000; P500 and P400); Desired profit on C and D (P2.000 and P1.500). If the net proceeds of sale of by-products are presented as additional revenue of the main products, what is the total unit cost of Product B? O P10.42 P10 P10.49 O P11.00 BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20.000; 30.000; 5,000 and 5,000): Unit sold (18,000; 25.000:…
10. A production department within a company received materials of $10,000 and conversion costs of $10,000 from the prior department. It added material of $27,200 and conversion costs of $53,000. The equivalent units are 20,000 for material and 18,000 for conversion. Complete the following table to determine what is the unit cost for materials and conversion? PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Costs per unit are rounded to two decimal places and shown with "$" and commas as needed (i.e. $1,234.56). All other dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). Total Cost Equivalent Units Per Unit Material ? ? ? Conversion ? ? ?