CARAMEL Inc. manufactures three joint products. The following production data were providedby CARAMEL Inc. for the current period:Product Name Units ProducedXYZJoint product costs for the current period were as follows:Raw materialsDirect laborFactory overheadCosts before separationCosts after separation:X1,0002,0003,000The company uses the net realizable value method for allocating joint costs.8. What is the Gross profit/(loss) on the sale of all X products?YZProduction for April, in pounds:ZAdditional Processing Final Selling PriceCost after Split Off9. What is the total gross profit (loss) on the sale of all the joint products?MACCHIATO Company produces two main products jointly. X and Y. and Z. which is a by-product of Y. X and Y are produced from the same raw material. Z is manufactured from theresidue of the process creating Y.Sales for April:Costs before separation are apportioned between the two main products by the net realizable valuemethod. The net revenue realized from the sale of Z is deducted from the cost of Y. Data for Aprilwere as follows:EXYNP20,00010,00030,000P10,00015,00025,000ZP50103010. What is the total gross profit/(loss) for the month of April?P200,00050,00032,0004.000800,000200,00020,000640,000 pounds @ P.4375180,000 pounds @ 6520,000 pounds @ .30

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CARAMEL Inc. manufactures three joint products. The following production data were provided by CARAMEL Inc. for the current period: Product Name Units Produced XXN Z 1,000 2,000 3,000 Additional Processing Final Selling Price Cost after Split Off P20,000 10,000 30,000 Joint product costs for the current period were as follows: Raw materials Direct labor Factory overhead P10,000 15,000 25,000 P50 10 30 The company uses the net realizable value method for allocating joint costs. 8. What is the Gross profit/(loss) on the sale of all X products?

CARAMEL Inc. manufactures three joint products. The following production data were provided by CARAMEL Inc. for the current period: Product Name Units Produced XXN Z 1,000 2,000 3,000 Additional Processing Final Selling Price Cost after Split Off P20,000 10,000 30,000 Joint product costs for the current period were as follows: Raw materials Direct labor Factory overhead P10,000 15,000 25,000 P50 10 30 The company uses the net realizable value method for allocating joint costs. 8. What is the Gross profit/(loss) on the sale of all X products?

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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