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MediaForum has three operating groups: Games, News, and Documentaries. In May, the company incurred $24,000,000 of joint cost for facilities and administration. May revenues and separate costs of ach group are as follows: Games News $34,040,000 $30,720,000 Revenue Separate costs 31,040,000 16,320,000 Assuming joint cost is allocated to each operating group using the profit before joint cost allocation as the basis for allocation, compute the profit for each operating area after the allocation. lote: Compute the profit for each operating area after the allocation. lote: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Games News Documentary $ Games News Documentary Total $ What amount of joint cost is allocated to each operating group if the allocation is based on revenue? lote: Compute the profit for each operating group after the allocation. lote: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Total $ 2,250,000 x 10,800,000 58,950,000 x 72,000,000 ✓ $ Documentaries $189,320,000 110,720,000 (215,365) x 11,498,237 x 60,717,128 x 72.000.000 x

MediaForum has three operating groups: Games, News, and Documentaries. In May, the company incurred $24,000,000 of joint cost for facilities and administration. May revenues and separate costs of ach group are as follows: Games News $34,040,000 $30,720,000 Revenue Separate costs 31,040,000 16,320,000 Assuming joint cost is allocated to each operating group using the profit before joint cost allocation as the basis for allocation, compute the profit for each operating area after the allocation. lote: Compute the profit for each operating area after the allocation. lote: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Games News Documentary $ Games News Documentary Total $ What amount of joint cost is allocated to each operating group if the allocation is based on revenue? lote: Compute the profit for each operating group after the allocation. lote: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Total $ 2,250,000 x 10,800,000 58,950,000 x 72,000,000 ✓ $ Documentaries $189,320,000 110,720,000 (215,365) x 11,498,237 x 60,717,128 x 72.000.000 x

FINANCIAL ACCOUNTING
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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MediaForum has three operating groups: Games, News, and Documentaries. In May, the company incurred $24,000,000 of joint cost for facilities and administration. May revenues and separate costs of each group are as follows: Games News $34,040,000 $30,720,000 Separate costs 31,040,000 16,320,000 Revenue a. Assuming joint cost is allocated to each operating group using the profit before joint cost allocation as the basis for allocation, compute the profit for each operating area after the allocation. Note: Compute the profit for each operating area after the allocation. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Games News Documentary Games News Documentary $ 2,250,000 x 10,800,000✔ 58,950,000 x 72,000,000 ✓ Total $ b. What amount of joint cost is allocated to each operating group if the allocation is based on revenue? Note: Compute the profit for each operating group after the allocation. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Total $ Documentaries $189,320,000 110,720,000 $ (215,365) x 11,498,237 x 60,717,128 x 72,000,000
Transcribed Image Text:MediaForum has three operating groups: Games, News, and Documentaries. In May, the company incurred $24,000,000 of joint cost for facilities and administration. May revenues and separate costs of each group are as follows: Games News $34,040,000 $30,720,000 Separate costs 31,040,000 16,320,000 Revenue a. Assuming joint cost is allocated to each operating group using the profit before joint cost allocation as the basis for allocation, compute the profit for each operating area after the allocation. Note: Compute the profit for each operating area after the allocation. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Games News Documentary Games News Documentary $ 2,250,000 x 10,800,000✔ 58,950,000 x 72,000,000 ✓ Total $ b. What amount of joint cost is allocated to each operating group if the allocation is based on revenue? Note: Compute the profit for each operating group after the allocation. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Total $ Documentaries $189,320,000 110,720,000 $ (215,365) x 11,498,237 x 60,717,128 x 72,000,000
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