Sales-Value-at-Split-off MethodAlomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows:Direct materials$60,000Direct labor37,000Overhead27,000At the split-off point, a batch yields 1,500 barlon, 2,300 selene, 2,200 plicene, and 3,200 corsol. All products are sold at the split-off point: barlon sells for $17 per unit,selene sells for $20 per unit, plicene sells for $28 per unit, and corsol sells for $36 per unit.Required:Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the final allocations to thenearest dollar.Allocated Joint CostBarionSelenePliceneCorsolTotal(Note: The total of the allocated cost may not equal actual total costs to due to rounding.)

at the sales split point it is considered at a point where the cost of two or more product can be…

Sales-Value-at-Split-off Method Alomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows: Direct materials $60,000 37,000 Direct labor Overhead 27,000 At the split-off point, a batch yields 1,500 barlon, 2,300 selene, 2,200 plicene, and 3,200 corsol. All products are sold at the split-off point: barlon sells for $17 per un selene sells for $20 per unit, plicene sells for $28 per unit, and corsol sells for $36 per unit. Required: Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the final allocations to nearest dollar. Allocated Joint Cost Barlon Selene Plicene Corsol Total (Note: The total of the allocated cost may not equal actual total costs to due to rounding.)

Sales-Value-at-Split-off Method Alomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows: Direct materials $60,000 37,000 Direct labor Overhead 27,000 At the split-off point, a batch yields 1,500 barlon, 2,300 selene, 2,200 plicene, and 3,200 corsol. All products are sold at the split-off point: barlon sells for $17 per un selene sells for $20 per unit, plicene sells for $28 per unit, and corsol sells for $36 per unit. Required: Allocate the joint costs using the sales-value-at-split-off method. If required, round allocation rates to four decimal places and round the final allocations to nearest dollar. Allocated Joint Cost Barlon Selene Plicene Corsol Total (Note: The total of the allocated cost may not equal actual total costs to due to rounding.)

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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Joint Cost Allocation-Physical Units Method Medieval Blacksmith Co. produces two types of decorative swords, a broadsword and a longsword. The swords are made through a joint production process that ultimately produces 30 broadswords and 20 longswords and costs a total of $4,000 per batch. After the split-off point, each type of sword goes through an additional crafting process before it is sold. The additional production process of the broadsword costs $30 per sword, after which it is sold for $180 per sword. The additional production process of the longsword costs $25 per sword, after which it is sold for $150 per sword. Determine the amount of joint production costs allocated to each type of sword using the physical units method. Joint Product Broadsword Longsword Totals Allocation $
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