Coconuts N More produces two joint products, Coconut Milk and Coconut Meat. The company uses the leftover Coconut Skin as a by-product. All three are produced from joint costs of $75,000: direct materials amounting to $50,000 and another $25,000 for direct labor and manufacturing overhead. Beginning inventory for all three products is zero. Information for production of the product is as follows: Product Coconut Milk Coconut Meat Coconut Skin $1,604 $2,000 O $0 Units Produced in lbs $2,250 21,000 12,200 2,250 How much in joint costs should be allocated to the by-product, using the sales method? Units Sold in lbs 19,500 10,300 2,000 Sales price per lb $1.30 6.20 1.00

Coconuts N More produces two joint products, Coconut Milk and Coconut Meat. The company uses the leftover Coconut Skin as a by-product. All three are produced from joint costs of $75,000: direct materials amounting to $50,000 and another $25,000 for direct labor and manufacturing overhead. Beginning inventory for all three products is zero. Information for production of the product is as follows: Product Coconut Milk Coconut Meat Coconut Skin $1,604 $2,000 O $0 Units Produced in lbs $2,250 21,000 12,200 2,250 How much in joint costs should be allocated to the by-product, using the sales method? Units Sold in lbs 19,500 10,300 2,000 Sales price per lb $1.30 6.20 1.00

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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JFK Sp G Persua: BIF ANSV B which c BWILL BE M (no sub Gis engli + n/courseware-delivery//ua/69158/45467532/aHR0cHM6Ly9mMi5hcHAUZWRtZW50dW0uY29tL2xlYXJuZXItdWkvc2Vjb25kYXJ5L3VzZXItY... < ☆ Unit Activity: Mathematical Models and Consumer Finance https:// Online Task 2 Saving Money Respond to each question below in two to three complete sentences. Each question is worth four points. BIUX² X₂ 15px Space used (includes formatting): 0/ 15000 Edment A G What fa Part A How can knowing your spending habits make it easier for you to learn to save money? Give an example to illustrate your explanation. !!! 6 of 12 V Print Sav
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