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P45,000 P30,000 P67,500 P22,500

P45,000 P30,000 P67,500 P22,500

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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Accounting for Joint Products and By-Products 613 52. What is the sales value of Product D at split off point? P45,000 b. a. P30,000 P67,500 d. P22,500 c. 53. What is the cost of Product E sold for the vear ended July 31, 2018? P147,000 b. а. P 99,000 P144,000 d. P135,000 с. 54. What is the cost of the inventory of Product D on July 31, 2018? P27,000 b. а. P18,000 P22,500 d. с. P54,000 55. What is the cost of the inventory of Product F on July 31, 2018? P33,500 P65,250 P42,750 P90,000 a. b. с. d. Question 56 and 57 are based on the following data: JGG Company produces three products: Product A, B and C from the same materials. Joint costs for this production run are P32,500. Data for the three products are: Sales price per kilo at split-off point Disposal cost per kilo at split-off point Product Kilos 800 P6.50 P3.00 A 8.25 1,100 1,500 4.20 4.00 8.00
Transcribed Image Text:Accounting for Joint Products and By-Products 613 52. What is the sales value of Product D at split off point? P45,000 b. a. P30,000 P67,500 d. P22,500 c. 53. What is the cost of Product E sold for the vear ended July 31, 2018? P147,000 b. а. P 99,000 P144,000 d. P135,000 с. 54. What is the cost of the inventory of Product D on July 31, 2018? P27,000 b. а. P18,000 P22,500 d. с. P54,000 55. What is the cost of the inventory of Product F on July 31, 2018? P33,500 P65,250 P42,750 P90,000 a. b. с. d. Question 56 and 57 are based on the following data: JGG Company produces three products: Product A, B and C from the same materials. Joint costs for this production run are P32,500. Data for the three products are: Sales price per kilo at split-off point Disposal cost per kilo at split-off point Product Kilos 800 P6.50 P3.00 A 8.25 1,100 1,500 4.20 4.00 8.00
d. P65,000 and Resi-Dew? Resi-Dew PO Rain Dew P24,000 b. P23,200 P24,000 d. P23,200 P1,200 P1,200 а. c. PO Use the following data for Numbers 52-55: JMG Company buys Article X for P.80 per unit. At the end of processing in Department 1 Article X split into Products D, E, and F. Product D is sold at split-off point with no further processing. E and F require further processing before they can be sold. E is processed in Department 2; and F is sed in Department 3. the following is a summary of costs and other data for the fiscal year ended July 31, 2018: Department 1 Department 2 Department 3 Cost of Article X: Direct materials Direct labor Factory overhead P144,000 21,000 15,000 P67,500 31,500 P97,500 73,500 Product D Product E Product F Units sold Units on hand, July 31, 2018 Sales 30,000 15,000 P45,000 JMG uses the estimated net realizable method of allocating joint costs. 45,000 67,500 22,500 P212,625 P144,000
Transcribed Image Text:d. P65,000 and Resi-Dew? Resi-Dew PO Rain Dew P24,000 b. P23,200 P24,000 d. P23,200 P1,200 P1,200 а. c. PO Use the following data for Numbers 52-55: JMG Company buys Article X for P.80 per unit. At the end of processing in Department 1 Article X split into Products D, E, and F. Product D is sold at split-off point with no further processing. E and F require further processing before they can be sold. E is processed in Department 2; and F is sed in Department 3. the following is a summary of costs and other data for the fiscal year ended July 31, 2018: Department 1 Department 2 Department 3 Cost of Article X: Direct materials Direct labor Factory overhead P144,000 21,000 15,000 P67,500 31,500 P97,500 73,500 Product D Product E Product F Units sold Units on hand, July 31, 2018 Sales 30,000 15,000 P45,000 JMG uses the estimated net realizable method of allocating joint costs. 45,000 67,500 22,500 P212,625 P144,000
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