SLO-2.2. are necessary at the end of an accounting period because some account balances do not show proper financial statement balances caused by the passage of time. OAdjusting Entries Oclosing Entries OReversing Entries OAnalyzing Entries SLO-2.3. The first or original step in recording transactions is in the OLedger OJournal OTrial Balance OBalance Sheet

SLO-2.2. are necessary at the end of an accounting period because some account balances do not show proper financial statement balances caused by the passage of time. OAdjusting Entries Oclosing Entries OReversing Entries OAnalyzing Entries SLO-2.3. The first or original step in recording transactions is in the OLedger OJournal OTrial Balance OBalance Sheet

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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Please answer section d) only
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 5 per pound Quarterly Output 10,000 pounds A $ B $ 7 per pound 22,000 pounds C $ 11 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 $ 8 per pound B $ 38,000 $ 13 per pound с $ 18,000 $ 20 per gallon Which products should be processed further?
---------- distrebution being distributed Straight? 1 Total distrebution 2 Single distrebution 3 Step distrebution
Please provide the introductory part and answer for question D.
can you explain why the answer for the third part is option number 2 from the selection of answers
Subject :- Accounting
A, B, C
WP Corporation produces products X, Y, and Z from a single raw material input in a joint production process. Budgeted data for the next month is as follows: A) B) Product X yes yes no no Units produced Per unit sales value at split-off Added processing costs per unit Per unit sales value if processed further The cost of the joint raw material input is $90,000. Which of the products should be processed beyond the split-off point? Product Y yes no yes yes Product X 2,700 $ 25.00 $ 2.00 $31.00 Product Z no yes no yes Product Y 3,200 $ 28.00 $ 4.00 $31.00 Product Z 4,200 $ 27.00 $4.00 $36.00
Answer each of the following independent question: a and b
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