Data pertaining to a company's joint production for the current period follows: Quantities produced L M 225 lbs. 180 lbs. Market value at split-off point $8/lb. $15/lb. Compute the cost to be allocated to Product M for this period's $760 of joint costs if the value basis is used. a. $304. b. $456. c. $380. d. $1,544. e. $906.

Data pertaining to a company's joint production for the current period follows: Quantities produced L M 225 lbs. 180 lbs. Market value at split-off point $8/lb. $15/lb. Compute the cost to be allocated to Product M for this period's $760 of joint costs if the value basis is used. a. $304. b. $456. c. $380. d. $1,544. e. $906.

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 13E: Computing joint costssales value at split-off and net realizable value methods D.L. Manufacturing...

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1.A company produced 400 units of Product L and 200 units of Product M during the current period and incurred joint costs of $684. Product L sells for $8 per unit and Product M sells for $16 per unit. Compute the cost to be allocated to Product L for this period’s joint costs if the value basis is used.
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ats Assume a company has three products-A, B, and C-that emerge from a joint process. The joint processing costs that are incurred up to the split-off point equal $1,200,000. The selling prices and outputs for each product at the split-off point are as follows: Product A B С Selling Price $33 per pound $29 per pound $24 per pound Product A B C Each product can be processed further beyond the split-off point. The additional processing costs for each product and their respective selling prices after further processing are as follows: Output 14,000 pounds 18,000 pounds 19,000 pounds Additional Processing Costs $65,000 $72,000 $88,000 Selling Price $37 per pound $34 per pound $30 per pound The company is trying to decide whether to retain or discontinue the entire joint manufacturing process. What is the financial advantage (disadvantage) of continuing to operate the entire joint manufacturing process?
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