Need answer Euclid Corporation processes a patented chemical, P-1, andproduces two outputs, P-11, and P-12. In August, the costs toprocess P-1 are $152,000 for materials and $290,000 forconversion costs. P-11 has a sales value of $643,000 and P-12 hasa sales value of $172,000.Using the net realizable value method, assign costs to P-11 andP-12 for August.

Explanation of Net Realizable Value (NRV) Method:The Net Realizable Value (NRV) method is a way to…

Answered: Euclid Corporation processes a patented…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter11: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 4CMA: Oakes Inc. manufactured 40,000 gallons of Mononate and 60,000 gallons of Beracyl in a joint...

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Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $165,000 for materials and $330,000 for conversion costs. P-11 has a sales value of $712,000 and P-12 has a sales value of $178,000. Required: Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.)
Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $144,000 for materials and $288,000 for conversion costs. P-11 has a sales value of $640,000 and P-12 has a sales value of $160,000. Required Using the net realizable value method, assign costs to P-11 and P- 12 for August.
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Sunland uses DM of $48,000 and incurs DL and MOH costs of $61,000 and $28,000, respectively, in a single process that results in two main products, Tex and Mex. Product Tex, which has an immediate sales value of $92,000, is further processed at a cost of $43,000 in order to increase its sales value to $150,000. How much are Sunland's joint costs, and to which products will they be assigned? How much are Sunland's separable costs, and to which products will they be assigned? Total joint costs Total separable costs $ Costs Assigned to
The Freed Company produces three products, X, Y, Z, from a single raw material input. Product Y can be sold at the split-off point for total revenues of $50,000, or it can be processed further at a total cost of $16,000 and then sold for $68,000. Product Y: А. Should be sold at the split-off point, rather than processed further. В. Would increase the company's overall net operating income by $18,000 if processed further and then sold. С. Would increase the company's overall net operating income by $68,000 if processed further and then sold. D. Would increase the company's overall net operating income by $2,000 if processed further and then sold. Е. None of the above
Finch Modems has excess production capacity and is considering the possibility of making and selling paging equipment. The following estimates are based on a production and sales volume of 1,600 pagers. Unit-level manufacturing costs are expected to be $26. Sales commissions will be established at $1.60 per unit. The current facility- level costs, including depreciation on manufacturing equipment ($66,000), rent on the manufacturing facility ($56,000), depreciation on the administrative equipment ($13,800), and other fixed administrative expenses ($74,950), will not be affected by the production of the pagers. The chief accountant has decided to allocate the facility-level costs to the existing product (modems) and to the new product (pagers) on the basis of the number of units of product made (i.e., 5,600 modems and 1,600 pagers). Required a. Determine the per-unit cost of making and selling 1,600 pagers. (Do not round intermediate calculations. Round your answer to 3 decimal places.)…
Corey Corporation manufactures joint products W and X. During a recent period, joint costs amounted to $450,000 in the production of 20,000 gallons of W and 50,000 gallons of X. Both products will be processed beyond the split-off point, giving rise to the following data: Separable processing costs Sales price (per gallon) if processed beyond split-off The joint cost allocated to W under the net-realizable-value method would be: (Do not round intermediate calculations.) Multiple Choice $156,000. $142,105, $110,000 $128.571. $40,000 $ 15 $ $160,000 13
Arkansas Corporation manufactures liquid chemicals A and B from a joint process. It allocates joint costs on the basis of sales value at split-off. Processing 5,000 gallons of product A and 1,600 gallons of product B to the split-off point costs $5,900. The sales value at split-off is $2.00 per gallon for product A and $25.00 per gallon for product B. Product 8 requires additional separable processing beyond the split-off point at a cost of $2.50 per gallon before it can be sold at a price of $34 per gallon. Required: What is the company's cost to produce 1,600 gallons of product B? Product cost
Wildhorse uses DM of $47,000 and incurs DL and MOH costs of $55,000 and $27,000, respectively, in a single process that results in two main products, Tex and Mex. Product Tex, which has an immediate sales value of $86,000, is further processed at a cost of $42.000 in order to increase its sales value to $160,000. How much are Wildhorse's joint costs, and to which products will they be assigned? How much are Wildhorse's separable costs, and to which products will they be assigned? Total joint costs $ Total separable costs $ en Costs Assigned to (
Monroe Materials processes a purchased material, PM-20, and produces three outputs, Alpha, Beta, and Gamma. In February, the costs to process PM-20 are $1,084,000 for materials and $644,000 for conversion costs. The results of the processing follow: Units Produced Sales Value per Unit Alpha Beta 31,000 $ 9.60 24,800 Gamma 6,200 18.00 80.00 Required: Assign costs to Alpha, Beta, and Gamma for February using the net realizable value method. Product Cost Assigned Alpha Beta Gamma Total S 0
Sheddon Industries produces two products. The products' identified costs are as follows: Product A Product B Direct materials $20,000 $15,000 Direct labor $12,000 $24,000 The company's overhead costs of $108,000 are allocated based on direct labor cost. Assume 4,000 units of product A and 5,000 units of Product B are produced. What is the cost per unit for product B? (Do not round your intermediate calculations.)
The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint products are processed beyond the split-off point, incurring separable processing costs. There is a $1,300 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Units sold Units produced Separable processing costs-variable Separable processing costs-fixed Sales price Ying 65,000 65,000 $ 182,000 Yang 52,000 52,000 Bit 13,000 13,000 $ 55,000 $ $ 13,000 $ 6.00 $ 10,000 $ - $ 12.50 $ 1.50 Total joint costs for Marshall in the recent month are $188,200, of which $80,926 is a variable cost. Required: 1. Calculate the manufacturing cost per unit for each of the three products. Note: Round manufacturing cost per unit answers to 2 decimal places. 2. Calculate the total gross margin…

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