Split Company produces three products-X, Y, and Z-from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $136,000. Sales values and costs needed to evaluate Split's production policy follow. Product X y z B. $35,650. C. $42,252. D. $48,897. Units Produced 15,000 5,000 5,000 $50.007 Sales Value at Split Off $44,000 27,000 32,000 The amount of joint costs allocated to product X using the sales value at split-off method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): A. $30,639. If Processed Further Sales Value $ 100,000 52,000 46,000 Additional Costs $ 5,200 11,000 13,500

Split Company produces three products-X, Y, and Z-from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $136,000. Sales values and costs needed to evaluate Split's production policy follow. Product X y z B. $35,650. C. $42,252. D. $48,897. Units Produced 15,000 5,000 5,000 $50.007 Sales Value at Split Off $44,000 27,000 32,000 The amount of joint costs allocated to product X using the sales value at split-off method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): A. $30,639. If Processed Further Sales Value $ 100,000 52,000 46,000 Additional Costs $ 5,200 11,000 13,500

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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