Exercise 8-2. JOINT COST ALLOCATIONThe AB Company produces three joint products, A, N and T. During February, the following informationwas recorded:TotalProductAProduct ProductINJoint materialsP 5,000Joint processing costSeparable processing costsOutput in unitsKilograms per unitSales price per unit @ split offIndex pointsREQUIRED: Compute for the gross profit for each product by allocating the joint cost using: [a] marketvalue method, [b]quantitative unit method; [c] average unit cost method; [d] weighted averagemethod25,000P 5,00015,00010,000P8,000P2,0002,0005,0003,0003P5.00 P 3.00P 4.00243

Gross profit is the initial profit level of any business attained directly from the sale of goods or…

Answered: P 5,000 25,000 15,000 P 5,000 5,000…

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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EOY 1 3 4 Cash $8,000 $15,000 $22,000| $29,000 $36,000 Flow What is the uniform annual equivalent if the interest rate is [ Select ] 12% per year? What is the future equivalent if the interest rate is 12% per [ Select ] year? What is the present equivalent if the interest rate is 12% per year? [ Select ]
Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start- up company. What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use Exhibit 8-10 b. Julie paid $5,650 to the day care center and her AGI is $52,600 (all salary). Child and dependent care credit
Preparing a Schedule of Cash Collections on Accounts Receivable Kailua and Company is a legal services firm. All sales of legal services are billed to the client (there are no cash sales). Kailua expects that, on average, 20% will be paid in the month of billing, 50% will be paid in the month following billing, and 25% will be paid in the second month following billing. For the next 5 months, the following sales billings are expected: $84,000 100,800 77,000 86,800 91,000 May June July August September Required: Prepare a schedule showing the cash expected in payments on accounts receivable in August and in September. If an amount box does not require an entry, leave it blank or enter "0". Be sure to enter percentages as whole numbers. Kailua and Company Schedule
22:47 M O G lie l 55% Stationery RB00 Stationery 4 HB00 Creditors + R800 + R800 Bank Stationery R800 D + R800 Required Exercise 8 ing October 20x6, his first month of business. a Dan invested R40 000 into a bank account, which he opened up in the name of the business. He bought R75 400 worth of dental equipment from dental suppliers. An amount of R22 000 was paid immediately and the balance will be paid off over the next few months. 7. R30 000 was acquired as a loan from DTU Bank. 10. Dr Dan contributed a vehicle valued at R60 000 to the business. 14 Cash fees of R3 670 were collected from clients. 16 R120 was paid to hire a computer. 18 Provided services for clients amounting to R4 580 on credit. 20 Dr Dan took R250 out of the business bank account to buy his wife a birthday present. 25 Rent of R1 200 was paid. 27 Telkom was paid R180 for telephone use. 29 Dr Dan paid R3 200 to dental suppliers (see 4 October above) and R1 000 to DTU Bank to reduce the loan. 30 Paid R260 interest on…
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4G+ 11:56 M * ll 69% * Required Use the following to answer the two questions below. X Company had $90,000 of ending finished goods inventory, beginning finished goods inventory was $100,000, and cost of goods sold $620,000 Refer to the above, how much would the company report for cost of goods manufactured? * $710,000 $610,000 $600,000 None of the above Refer to the above, assume that sales revenue for the year was $1,260,000 and total period costs were $300,000. The
Please can you show me how to solve for P step by step thank you
4G llll 4:33 XB/S 4GI 4 73 0.40 E ACCC - Disimpan 1, PREPARE THE TRIAL BALANCE ACCOUNTT TITLE Balance account payable 60,000 Account receivable 65000 Bank 40,000 Сapital 170,000 Cash 2,000 Comission paid 4300 Comission received 1,500 Discount Allowed 2300 Discount Received 3,500 Donations 500 Drawings 500 Fixture and Fittings 35000 Freight inwards 1000 Freight outward 1400 General Expenses 2300 Insurance premium 3600 Interest received on investment 5,000 Land and building 80000 Loan from Mbb 67500 opening inventory 1 JAN 2019 26000 Patent 50000 Printing and stationery 700 Purchases 65000 Rates and taxes 3200 Rental paid 4000 Rental revenue 3,000 Return inwards 1500 Returns Outwars 1,800 Sales 88,000 Wages and salaries 12000 * CLOSING INVENTORY 31 DECEMBER 2019 7,000

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P 5,000 25,000 15,000 P 5,000 5,000 P8,000 P2,000 3,000 3 2,000 10,000