Owen Company produces four products, which have a manufacturing cosy ofP217,000 at the split-off point. Data pertaining to these products are as follows:obProductMarket valueg At split-offUnits producedWeight factor3.0AP4.00Ioleyiq 20,000bod 32,00036,00024,0001.755.5C3.05.02.756.0Required: Allocate the joint cost using1. Market Value Method2. Average units cost method3. Weighted average method

Given that, manufacturing costs = 217000

Answered: Company produces four products, which…

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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Peter Company produces four solvents from the same process: A,B,C and D. Joint product costs are P9,000 ( Round to the nearest peso) Product Barrels SP @ Split-Off Pt. Cost to sell @ Split-off Separable Cost Final sales price A 750 P10.00 P6.50 P2.00 P13.50 B 1,000 8.00 4.00 2.50 10.00 C 1,400 11.00 7.00 4.00 15.50 D 2,000 15.00 9.50 4.50 19.50 If Peter Company sells the products after further processing, the following costs to sell will be incurred: A-P2.50 B-P1.00 C-P3.50 D- P6.00 Using the…
PT Agile Box produces products 1,2 and 3 from one combined product process. Information relating to the allocation of combined production costs is as follows Production Product Points / Market / unit Volume Units price 1.200 unit 3 200.000 600 unit 250.000 3 500 unit 4 350.000 Total 2.300 unit Based on this data, you allocate a joint production cost of IDR 345,000,000 to each product and calculate the cost / unit of each product if PT DZAKI uses the following alternatives: a. Average unit method b. Weighted average method (based on points /units) 2. 1, 2.
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COST ACCOUNTING PLS SHOW SOLUTION
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A-6

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