ESBA Company produced two joint products A and B, and by-products c and D from the same raw materials with joint costs P200.000. Other information are as follows: Units produced (20.000: 30.000; 5,000 and 5,000): Unit sold (18,000; 25.000: 5,000 and 5.000): Final unit selling prices (P25.00; P20.00; P2.00 and P1.50); Further processing costs (P150,000: P210,000: P5,000 and P4,000); Selling and Administrative expenses (P15.000: P21.000: P500 and P400): Desired profit on C and D (P2.000 and P1,500). If the entity uses average unit costs method in joint products, the reversal costs method in by products and there are no inventory on hand, what is the total net profit? O P432.836 O P438,300 O P438,589 O P439,026

ESBA Company produced two joint products A and B, and by-products c and D from the same raw materials with joint costs P200.000. Other information are as follows: Units produced (20.000: 30.000; 5,000 and 5,000): Unit sold (18,000; 25.000: 5,000 and 5.000): Final unit selling prices (P25.00; P20.00; P2.00 and P1.50); Further processing costs (P150,000: P210,000: P5,000 and P4,000); Selling and Administrative expenses (P15.000: P21.000: P500 and P400): Desired profit on C and D (P2.000 and P1,500). If the entity uses average unit costs method in joint products, the reversal costs method in by products and there are no inventory on hand, what is the total net profit? O P432.836 O P438,300 O P438,589 O P439,026

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 10PA: Clarion Industries produces two joint products, Y and Z. Prior to the split-off point, the company...

See similar textbooks

Similar questions

BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000, Other information are as follows: Units produced (20.000; 30,000; 5.000 and 5.000): Unit sold (18.000; 25,000: 5,000 and 5.000): Final unit selling prices (P25.00: P20.00; P2.00 and P1.50): Further processing costs (P150,000: P210,00O; P5,000 and P4,000): Selling and Administrative expenses (P15.000; P21,000; P500 and P400): Desired profit on C and D (P2.000 and P1.500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total unit cost of Product B?* P10.42 P10.49 P10.92 P11.00
BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000, Other information are as follows: Units produced (20,000; 30.000; 5.000 and 5.000): Unit sold (18,000; 25,000: 5.000 and 5,000): Final unit selling prices (P25.00; P20.00; P2.00 and P1.50): Further processing costs (P150,000: P210,000; P5,000 and P4.000): Selling and Administrative expenses (P15.000; P21,000: P500 and P400): Desired profit on C and D (P2.000 and P1,500). If the entity uses average unit costs method in jaint products and the reversal costs method in by products, what is the total cost of goods sold of main products? P478,474 P479,465 O P481,164 P483,011
BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20.000; 30.000; 5.000 and 5.000): Unit sold (18,000; 25,000; 5.000 and 5.000): Final unit selling prices (925.00; P20.00; P2.00 and P1.50): Further processing costs (P150.000; P210.000: P5.000 and P4,000): Selling and Administrative expenses (P15.000; P21.000; P500 and P400); Desired profit on C and D (P2.000 and P1.500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total unit cost of Product B?* P10.42 P10.49 P10.92 P11.00 BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30.000; 5.000 and 5,000): Unit sold (18,000; 25,000; 5,000 and 5.000): Final unit selling prices (P25.00; P20.00; P2.00 and…
MIX Inc. is conducting a joint process which results to three products. The following production data were provided by MIX Inc. for the current period:Product Name Units Produced Selling price per unit at split off pointAce 10,000 P40Bat 15,000 P20Can 25,000 P12Additional data for the period were provided:All the ace items were sold for a gross profit of P100,000.The joint costs were allocated using physical method.Requirement:1. What is the gross profit/(loss) if all the Bat items are sold in current year?2. Assuming the joint costs are fixed, what is the joint cost allocated to can items using the relative sales value method?
BSBA Company produced two joint products A and B. and by-products and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20.000; 30,000: 5.000 and 5,000); Unit sold (18.000: 25.000; 5,000 and 5.000); Final unit selling prices (P25.00: P20.00; 2.00 and P1.50): Further processing costs (P150.000; P210.000; P5,000 and P4,000); Selling and Administrative expenses (P15,000: P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the joint costs are allocated to by-products using the reversal cost method, what is the total costs of by products?* P11,136 P12,036 P13,100 P14,000 BSBA Company produced two joint products A and B. and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced…
X Ltd. manufactures product A which yields two by-products B and C. In a period the amount spent up to the point of separation was OMR 20,600. Subsequent expenses were: Materials (in OMR) A: 300 B: 200 C: 150 Direct Wages (in OMR) A: 400 B: 300 C: 200 Overhead (in OMR) A: 300 B: 270 C: 280 Gross sales value of product A, B and C was RO 15,000, RO 10,000 and RO 5,000 respectively. It was estimated that the net profit as a percentage of sales in B and C would be 25% and 20% respectively. Ascertain the profit earned on A.
ALASKA Company manufactures products F, G and W from a joint process. Joint costs are allocated on the basis of relative sales value at split-off. Additional informaton for the June 20x1 production activity as follows: F G W Total Units produced 50,000 40,000 10,000 100,000 Joint costs ? ? ? P450,000 Sales value at split-off P420,000 P270,000 P60,000 P750,000 Additional costs if processed further 88,000 30,000 12,000 130,000 Sales value if processed further 538,000 320,000 78,000 936,000 Assuming that the 10,000 units of W were processed further and sold for P78,000, what was ALASKA's gross profit on this sale?
The meadows Company produced three joint.products at a joint cost of P132,000. Additional information for a recent period is as follows: Product Units produced Sales value Sales value and additional Processing if Processed Add'l Costs P19,800 15,400 11,000 At split-off 13,200 8,800 4,400 P88,000 77,000 55,000 Sales Value P121,000 99,000 66,000 Required: Allocate joint costs using: 1. Sales value at split-off 2. Physical units ABC
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total unit cost of Product B? P10.42 P10.49 P10.92 P11.00
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the entity uses average unit costs method in joint products and the net proceeds of sale of by-products are presented as additional revenue of the main products, what is the total unit cost of Product A? P11.50 P12.16 P12.21 P12.26
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the entity uses average unit costs method in joint products and the reversal costs method in by products, what is the total cost of goods sold of main products? P478,474 P479,465 P481,164 P483,011
Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. Other information are as follows: Units produced (20,000; 30,000; 5,000 and 5,000); Unit sold (18,000; 25,000; 5,000 and 5,000); Final unit selling prices (₱25.00; P20.00; ₱2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the entity uses average unit costs method in joint products, the reversal costs method in by products and there are no inventory on hand, what is the total net profit? P432,836 P438,300 P438,589 P439,026