Sales value and physical value allocationTo-Go produces milk and sour cream from a joint process. During June, the company produced 432,000 quarts of milk and 342,000 pints of sour cream (there are two pints in a quart). Sales value atsplit-off point was $679,320 for the milk and $319,680 for the sour cream. The milk was assigned $226,440 of the joint cost.Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar.a. Using the sales value at split-off approach, determine the total joint cost for June. $ 0b. Assume, instead, that the joint cost was allocated based on the number of quarts produced. What was the total joint cost incurred in June? $ 0

Part A: Sales Value at Split-Off ApproachStep 1: Calculate total sales valueTotal sales value =…

Answered: Sales value and physical value…

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 17E: Joint cost allocation-market value at split-off method Toil Oil processes crude oil to jointly...

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Sales value and physical value allocation To-Go produces milk and sour cream from ajont process. During june, the company produced 192.000 quarts of milk and 152.000 pints of sour cream (there are two pints in a quarti. Sales value at spit-off point wa $301,920 for the milk and $142.080 for the sour cream. The mulk was assigned $100,640 of the joint cost Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar Using the sales value at split off approach, determine the total jont cost for junes.0 b Assume instead, that the joint cost was allocated based on the number of quarts produced. What was the total joint cost incurred in june? 0
Y Company produces two joint products: Sweet and Sour. Joint cost is allocated using the net realizable value method at split-off point. Joint production cost is $70,000. Neither product is salable at split-off point. During May, the additional costs incurred beyond split-off point are as follows: Sweet $ 32,000 Sour $ 48,000 Production: Sweet: 3,200 units Sour: 1,600 units Selling prices: Sweet: $50.00 per unit Sour: $ 90.00 per unit What is the amount of joint cost allocated to Sweet and Sour using the NRV Method at split-off point. (Must show calculations or no credit) Joint cost allocated to Sweet: $_____________________________ Joint cost allocated to Sour:…
To-Go produces milk and sour cream from a joint process. During June, the company produced 336,000 quarts of milk and 266,000 pints of sour cream (there are two pints in a quart). Sales value at split-off point was $528,360 for the milk and $248,640 for the sour cream. The milk was assigned $176,120 of the joint cost. a. Using the sales value at split-off approach, determine the total joint cost for June. $______ b. Assume, instead, that the joint cost was allocated based on the number of quarts produced. What was the total joint cost incurred in June? $______
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Keiffer Production manufactures three joint products in a single process. The following information is available for August: (See attached) Allocate the joint cost of $1,339,200 to the production based on the following: a. number of gallons. JP-4539 $ JP-4587 JP-4591 Total $ b. sales value at split-off. JP-4539 $ JP-4587 JP-4591 Total $ c. approximated net realizable values at split-off. JP-4539 $ JP-4587 JP-4591 Total $
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CUIK-983 company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $75,000 per quarter. The company allocates these costs to the Joint products on the basis of their relative sales value at the split-off point. Unit selling prices and total output at the split-off point are as follows: Product Selling Price Quarterly Output 10,000 pounds A $ 5 per pound B $ 6 per pound 22,000 pounds C $ 14 per gallon 5,000 gallons Each product can be processed further after the split-off point. Additional processing requires no special facilities. The additional processing costs (per quarter) and unit selling prices after further processing are given below: Additional Product Processing Costs Selling Price A $ 53,000 B $ 38,000 C $ 18,000 Which products should be processed further? Multiple Choice Multiple Choice B and C A and C A, B, and C A and B $ 7 per pound $ 11 per pound $20 per gallon
CUIK-649 company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $75,000 per quarter. The company allocates these costs to the joint products on the basis of their relative sales value at the split-off point. Unit selling prices and total output at the split-off point are as follows: Product Selling Price Quarterly Output 10,000 pounds A $ 4 per pound B $ 6 per pound 22,000 pounds с $ 10 per gallon 5.000 gallons Each product can be processed further after the split-off point. Additional processing requires no special facilities. The additional processing costs (per quarter) and unit selling prices after further processing are given below: Additional Product Processing Costs Selling Price A $ 53.000 $ B $ 38,000 $ с $ 18,000 $ Which products should be processed further? Multiple Choice O O O A and B A and C B and C AR and C 7 per pound 12 per pound 19 per gallon
A Florida processing company, Sunshine ToGo, produces two products from a joint process: Alpha and Omega. Joint processing costs for this month's production cycle are $9,000. Pounds Sales priceper pound atsplit-off Disposalcost perpound atsplit-off Furtherprocessingper pound Final saleprice perpound Alpha 1,800 $7.00 $4.50 $1.50 $ 8.00 Omega 2,600 10.00 6.00 3.50 12.25 If Alpha and Omega are processed further, no disposal costs will be incurred or such costs will be borne by the buyer. Using a physical measure method, what amount of joint processing cost is allocated to Omega (round to the nearest dollar)? Using sales value at split-off, what amount of joint processing cost is allocated to Alpha (round to the nearest dollar)?

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