Elvie Company produces four solvents from the same process: A, B, C, and D. Joint product costs are P45,000. (Round all answers to the nearest peso.) If Elvie sells the products after further processing, the following disposal costs will be incurred: A, P7.50; B, P3.00; C, P10.50; D, P18.00. Using a physical measurement method, what amount of joint processing cost is allocated to Product B? * Sales price per barrel At split-off Disposal cost per barrel at split-off Further Final sales Barrels processing price per barrel costs P30.00 24.00 33.00 2,250 P19.50 P6.00 P40.50 B. 3,000 12.00 7.50 30.00 21.00 28.50 4,200 12.00 46.50 D. 6,000 45.00 13.50 58.50 a. P17,475 b. P 6,555 c. P 8,738 d. P12,235
Elvie Company produces four solvents from the same process: A, B, C, and D. Joint product costs are P45,000. (Round all answers to the nearest peso.) If Elvie sells the products after further processing, the following disposal costs will be incurred: A, P7.50; B, P3.00; C, P10.50; D, P18.00. Using a physical measurement method, what amount of joint processing cost is allocated to Product B? * Sales price per barrel At split-off Disposal cost per barrel at split-off Further Final sales Barrels processing price per barrel costs P30.00 24.00 33.00 2,250 P19.50 P6.00 P40.50 B. 3,000 12.00 7.50 30.00 21.00 28.50 4,200 12.00 46.50 D. 6,000 45.00 13.50 58.50 a. P17,475 b. P 6,555 c. P 8,738 d. P12,235
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 13P: Venezuela Oil Inc. transports crude oil to its refinery where it is processed into main products...
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Continuation:
Using sales value at split-off, what amount of joint
a. P22,165
b. P 5,910
c. P11,380
d. P 5,542
Using net realizable value at split-off, what amount of joint processing cost is allocated to Product C? *
a. P10,850
b. P 5,085
c. P 7,750
d. P21,315
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