Isaiah Inc. produces joint products A, B, and C from a joint process. Information concerning a batch produced in June at a joint cost of $120,000 was as follows: Separable A B C Total $45,000 $52,000 $8,000 $105,000 Processing cost Units Produced 2,400 3,600 5,800 11,800 Sales Value (after $140,000 $130,000 $25,000 $295,000 add processing) The amount of joint costs allocated to product B using the net realizable value method is:

Isaiah Inc. produces joint products A, B, and C from a joint process. Information concerning a batch produced in June at a joint cost of $120,000 was as follows: Separable A B C Total $45,000 $52,000 $8,000 $105,000 Processing cost Units Produced 2,400 3,600 5,800 11,800 Sales Value (after $140,000 $130,000 $25,000 $295,000 add processing) The amount of joint costs allocated to product B using the net realizable value method is:

Managerial Accounting

15th Edition

ISBN:9781337912020

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

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

Chapter5: Support Department And Joint Cost Allocation

Section: Chapter Questions

Problem 4CMA: Tucariz Company processes Duo into two joint products, Big and Mini. Duo is purchased in...

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Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $75,000 was as follows: M Total Separable Processing cost $10,000 $25,000 $2,000 $ 37,000 Units Produced 1,200 2,500 4,300 8,000 Sales Value (after addt'1 processing) $60,000 $50,000 $7,000 $117,000 The amount of joint costs allocated to product M using the net realizable value 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):
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):
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Harmony Inc
Johns Company manufactures products R, S, and I from a joint process. The following information is available: Product R. Total Units produced 12,000 ? 24,000 ? $50,000 $200,000 ? $120,000 Sales value at split-off Joint costs $ 48,000 Sales value if processed further Additional costs if processed further $ 18,000 $14,000 $10,000 $ 42,000 $110,000 $90,000 $60,000 $260,000 Assuming that joint product costs are allocated using the relative-sales-value at split-off approach, what was the sales value at split-off for products R and S? Product R Product S $ 55,000 $ 63,000 $ 80,000 $ 91,000 A) $ 75,000 B) $81,000 C) $70,000 D) $83,000 E) $101,000 $ 92,000
Corey Corporation manufactures joint products W and X. During a recent period, joint costs amounted to $320,000 in the production of 25,000 gallons of W and 60,000 gallons of X. Both products will be processed beyond the split-off point, giving rise to the following data: W X Separable processing costs $ 45,000 $ 150,000 Sales price (per gallon) if processed beyond split-off $ 15 $ 13 What would be the joint cost allocated to X under the net-realizable-value method ? Note: Do not round intermediate calculations.
The G-Lab Company produced three joint products at a joint cost of $170,000. Two of these products were processed further. Production and sales were: Additional Processing Costs 200,000 0 100,000 Product A B C Weight 500,000 lbs. 600,000 lbs. 700,000 lbs. Sales OA. $113,333.33 B. $92,555.56 C. $66,111.11 D. $47,222.22 245,000 30,000 175,000 If joint costs are allocated based on relative weight of the outputs and all products are main products, how much of the joint costs would be allocated to product A? (Do not round intermediary calculations. Round final answer to the nearest cent.)
ohns Company manufactures products R, S, and T from a joint process. The following information is available: Product R S T Total Units produced 25,000 ? ? 50,000 Sales value at split-off ? ? $ 103,000 $ 420,000 Joint costs $ 100,000 ? ? $ 250,000 Sales value if processed further $ 240,000 $ 187,500 $ 125,000 $ 552,500 Additional costs if processed further $ 37,500 $ 28,000 $ 21,250 $ 86,750 Assuming that joint product costs are allocated using the relative-sales-value at split-off approach, what was the sales value at split-off for products R and S? Product R Product S A) $ 143,000 $ 154,000 B) $ 151,000 $ 160,000 C) $ 168,000 $ 149,000 D) $ 179,000 $ 162,000 E) $ 189,000 $ 171,000 Multiple Choice Option A Option B Option C Option D Option E
The Armstrong Company uses a joint process to produce products A, B, C, and D. Each product may be sold at its split-off point or processed further. Joint processing costs for a single batch of joint products are $120,000. Other relevant data are: Additional Sales Value Sales Value at Product Processing After Split-Off Costs Processing A $25,000 $12,000 $48,000 B 24,000 16,000 36,000 C 44,000 28,000 70,000 D 17,000 10,000 32,000 Determine when each product should be sold. Show calculations to support your answers.
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $190,000: Product Units Produced and Sold After Split-Off Total Separable Costs Total Final Sales Value M 17,000 $ 18,800 $ 230,000 N 11,000 16,400 210,000 T 12,000 3,800 39,000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method?
Benjamin Signal Company produces products R, J, C from a joint process. Each product may be sold at the split off point or be processed further. Joint production costs of $92,000 are allocated to the products based on the relative number of units produced. Data for the current year operations follow: Product Units Allocated Joint Sales Value at Produced Production Spit off Cost $ 32,000 $ 40,000 $ 20,000 $ 76,000 $ 71,000 $ 48,000 R 8,000 10,000 5,000 Product R can be processed beyond the split off point for an additional cost of $26,000 and can then be sold for $105,000. Product J can be processed beyond the split off point for an additional $38,000 and then sold for $117,000. Product C can be processed beyond the split off point for an additional $12,000 and then sold for $57,000. Required: Which products should be processed beyond the split off point? Show your calculations.
Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $85,000 was as follows: The amount of joint costs allocated to product L 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): J Harmon Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $85,000 was as follows: C Separable Processing cost Units Produced Sales Value (after addt'l processing) L M N Total $11,000 $27,000 $5,000 $ 43,000 1,600 3,500 4,700 9,800 $64,000 $55,000 $13,000 $132,000 The amount of joint costs allocated to product L 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):