Deming & Sons manufactures four grades of lubricant, W.10, W-20, W-30, and W 40, from a joint process. Additional informationfollows.IE Processed FurtherUnitaSales ValueProduct Produced at Split-oft Additional Conta Salen Values$ 368, 000316, 000212,000160, 00061,056, 000$ 402,000368, 000264,000176, 000W-1061, 60044, 00035,20035,200$ 39, €0031, 60021,20013,2000105, 600W-20W-30W-40176,00041,210, 000Required:Assuming that total joint costs of $443,520 were allocated using the physical quantities method, what joint costs were allocated toeach product? (Do not round intermediate calculetions.)Joint CostsAllocatedProductW-10W-20W-30W40

Joint costs are those costs which are incurred for two or more than two products simultaneously.…

Answered: Deming & Sons manufactures four grades…

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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The joint costs allocated to product Y were
Exercise 11-52 (Algo) Physical Quantities Method; Sell or Process Further (LO 11-8, 9) The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $193,000. Additional information follows. If Processed Further Product Units Produced 88,000 64,000 28,000 Sales Value at Split-off $280, 000 250,000 190,000 Sales Values Additional Costs $370, 000 310, о00 280,000 KA $58,000 46,000 34,000 KB KC After the putblication of recent sclentific test results, the government has banned the sale of product KC. IF KC is produced, it must be disposed of in an approved way that costs $247,800 for every 28,000 units produced. Requlred: a. Assuming that Kyle Company continues to use the physical quantities method of allocation, what joint costs will be allocated to KA and to KB, respectively? b. Which, if either, product would you recommend Kyle Company sell at split-off? Complete this questlon by entering your answers In the…
Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: If Processed Further Sales Value at Additional Product Chem-1 Chem-2 Units Produced 291,000 Split-Off Costs Sales Values $ 223,000 $ 33,000 $ 263,000 179,000 Chem-3 195,000 Chem-4 147,000 812,000 267,000 152,600 249,400 29,700 293,000 25,200 183,000 26,600 273,000 $ 892,000 $ 114,500 $ 1,012,000 Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Product NRV at Split- Off Joint Costs Allocated Chem-1 Chem-2 Chem-3 Chem-4
Sales-Value-at-Split-off Method Alomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows: Direct materials $67,900 Direct labor 34,000 Overhead 25,500 At the split-off point, a batch yields 1,400 barlon, 2,600 selene, 2,500 plicene, and 3,500 corsol. All products are sold at the split-off point: barlon sells for $15 per unit, selene sells for $20 per unit, plicene sells for $26 per unit, and corsol sells for $35 per unit. Required: Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the final allocations to the nearest dollar. Allocated Joint Cost Barlon $ Selene Plicene Corsol Total $ (Note: The total of the allocated cost does not equal actual total costs to rounding.)
Please answer complete
Batches Incorporated produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $95,000 was as follows: L M N Total Separable Processing cost $ 12,000 $ 29,000 $ 8,000 $ 49,000 Units Produced 2,000 4,500 5,100 11,600 Sales Value (after additional processing) $ 68,000 $ 60,000 $ 19,000 $ 147,000 The amount of joint costs allocated to product M using the physical measure method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):
17 oints Split Corporation manufactures products X, Y, and Z from a joint production process. Joint costs are allocated to products based on relative sales value of the products at the split-off point. Additional information is as follows: Units produced Allocated joint costs Sales value at split-off 01:39:59 Sales value if processed further Additional costs for further processing Product X's sales value at the split-off point is: 26,000 $ 161,280 Z Total 22,000 $ 108,000 18,000 $180,000 66,000 $449,280 ? 150,000 66,000 250,000 624,000 46,000 186,000 341,000 279,000 1,268,000 74,000 648,000 0 Multiple Choice $156,000. $19,000. $190,000 $224,000 $117,000.
Heidelberg Fabrication manufactures two products, G -09 and G-35: \table[[, G- 69, G-35], [Units produced, 18,700, 3, 740], [Direct materials cost per unit, $7,$19 C Heidelberg Fabrication manufactures two products, G-09 and G-35: G-09 6-35 Units produced 18,700 3,740 Direct materials cost per unit Machine-hours per unit $ 7 $ 19 Production runs per quarter 4 144 7 72 Production at the plant is automated and any labor cost is included in overhead. Data on manufacturing overhead at the plant follow: Machine depreciation Setup labor Materials handling Total $ 100,980 50,490 40,392 $ 191,862 Required: a. Compute the unit costs for the two products, G-09 and G-35, using the current costing system at Heidelberg (using machine-hours as the allocation basis). b. Compute the unit costs for the two products, G-09 and G-35, using the proposed ABC system at Heidelberg. Note: For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. Unit Cost G-09 G-35…
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 a…

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