Crestview Industries, which manufactures Products A, B, C, and D through a joint process costing $25,000, has the following data for the year 2023: Product Sales Value at Split-Off $12,000 A B $8,000 C D $20,000 $10,000 What is the amount of joint costs assigned to Product C using the sales-value-at-split-off method? a. $10,000 b. $8,000 c. $12,500 d. $25,000

Crestview Industries, which manufactures Products A, B, C, and D through a joint process costing $25,000, has the following data for the year 2023: Product Sales Value at Split-Off $12,000 A B $8,000 C D $20,000 $10,000 What is the amount of joint costs assigned to Product C using the sales-value-at-split-off method? a. $10,000 b. $8,000 c. $12,500 d. $25,000

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 14E: LeMoyne Manufacturing Inc.’s joint cost of producing 2,000 units of Product X, 1,000 units of...

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Assume a company has two products-A and B-that emerge from a joint process. A total of 2,000 units of Product A are produced from the joint process. Product A can be sold at the split-off point for $16 per unit, or it can be processed further for an additional total cost of $16,000 and then sold for $25 per unit. What is the incremental revenue earned by further processing Product A? Multiple Choice $18,000 $8,000 $4,000 $2,000
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Gelb Company currently manufactures 47,500 units per year of a key component for its manufacturing process. Variable costs are $4.05 per unit, fixed costs related to making this component are $85,000 per year, and allocated fixed costs are $70,500 per year. The allocated fixed costs are unavoidable whether the company makes or buys this component. The company is considering buying this component from a supplier for $3.70 per unit. Calculate the total incremental cost of making 47,500 units and buying 47,500 units. Should it continue to manufacture the component, or should it buy this component from the outside supplier? Complete this question by entering your answers in the tabs below. Outside Supplier Calculate the total incremental cost of making 47,500 units. (Round "variable cost per unit" answers to 2 decimal places.) Incremental Costs to Make Relevant Amount per Unit Costs to Make Costs to Buy Variable cost per unit Fixed manufacturing costs Total incremental cost to make…
Gelb Company currently manufactures 46,500 units per year of a key component for its manufacturing process. Variable costs are $7.35 per unit, fixed costs related to making this component are $75,000 per year, and allocated fixed costs are $72,500 per year. The allocated fixed costs are unavoidable whether the company makes or buys this component. The company is considering buying this component from a supplier for $3.70 per unit. Calculate the total incremental cost of making 46,500 units and buying 46,500 units. Should it continue to manufacture the component, or should it buy this component from the outside supplier?