Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at ajoint cost of $135,000:Product Units Produced and SoldMZENT11,5005,5006,500ProductMNTAfter Split-OffAllocatedJoint CostTotal Separable Costs$ 10,0009,8008,200Required:How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not roundintermediate calculations. Enter your final answers in whole dollars.)Total Final Sales Value$175,000155,00028,000

The shared production expenses incurred up to the point of separation for numerous products coming…

Tango Company produces joint products M, N, and I from a joint process. This information concerns a batch p joint cost of $135,000: Product Units Produced and Sold Total Separable Costs M N ZE T Product 11,500 5,500 6,500 M After Split-Off $ 10,000 9,800 8,200 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (D intermediate calculations. Enter your final answers in whole dollars.) Allocated Joint Cost Total Final Sales Value $175,000 155,000 28,000

Tango Company produces joint products M, N, and I from a joint process. This information concerns a batch p joint cost of $135,000: Product Units Produced and Sold Total Separable Costs M N ZE T Product 11,500 5,500 6,500 M After Split-Off $ 10,000 9,800 8,200 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (D intermediate calculations. Enter your final answers in whole dollars.) Allocated Joint Cost Total Final Sales Value $175,000 155,000 28,000

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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Stoney Brook Company produces two products (X and Y) 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. Joint manufacturing costs for the year were $81,000. Sales values and costs were as follows: Product Units Made Sales Price at Split-Off If Processed Further Sales Value Separable Cost X 12,000 $ 43,000 $ 81,000 $ 10,500 Y 4,000 86,000 96,000 7,500 If the joint production costs are allocated based on the relative-sales-value method, what woukd be the amount of joint cost assigned to product X ?
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Ibsen Company makes two products from a common input. Joint processing costs up to the split-off point total $45,500 a year. The company allocates these costs to the joint products on the basis of their total sales values at the split-off point. Each product may be sold at the split-off point or processed further. Data concerning these products appear below: Product X Product Y Total Allocated joint processing costs $27,300 $ 18,200 $ 45,500 Sales value at split-off point $ 30,000 $20,000 $50,000 Costs of further processing $ 24,200 $ 18,500 $ 42,700 Sales value after further processing $ 47,800 $58,300 $ 106,100 Required: a. What is financial advantage (disadvantage) of processing Product X beyond the split-off point? (Negative amount should be indicated by a minus sign.) b. What is financial advantage (disadvantage) of processing Product Y beyond the split-off point? c. What is the minimum amount the company should accept for Product X if it is to be sold at the split-off point? d.…
PT Agile Box produces products 1,2 and 3 from one combined product process. Information relating to the allocation of combined production costs is as follows Production Product Points / Market / unit Volume Units price 1.200 unit 3 200.000 600 unit 250.000 3 500 unit 4 350.000 Total 2.300 unit Based on this data, you allocate a joint production cost of IDR 345,000,000 to each product and calculate the cost / unit of each product if PT DZAKI uses the following alternatives: a. Average unit method b. Weighted average method (based on points /units) 2. 1, 2.
Corey Corporation manufactures joint products W and X. During a recent period, joint costs amounted to $320,000 in the production of 25,000 gallons of W and 60,000 gallons of X. Both products will be processed beyond the split-off point, giving rise to the following data: W X Separable processing costs $ 45,000 $ 150,000 Sales price (per gallon) if processed beyond split-off $ 15 $ 13 What would be the joint cost allocated to X under the net-realizable-value method ? Note: Do not round intermediate calculations.
Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $168,000. The sales value at split-off was $174,960 for 8,400 units of Kappa and $63,280 for 12,600 units of Lambda. Required: What joint costs are allocated to the two products using the net realizable value at split-off approach? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts. What joint costs are allocated to the two products using the physical quantities method? Note: Do not round intermediate calculations. Kappa Lambda a. Net realizable value method ??? ??? b. Physical quantities method ??? ???
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 $130,000. Sales values and costs needed to evaluate Split's production policy follow. Product X y Z A. $27,132. B. $32,143. C. $37,143. D. $43,788. E. $60,714. OA B C Units Produced 14,000 7,500 3,500 OD Sales Value at Split Off $42,500 22,500 26,000 If Processed Further Sales Value $ 92,500 47,500 40,000 The amount of joint costs allocated to product Y 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): Additional Costs $ 3,700 8,000 9,000
ats Assume a company has three products-A, B, and C-that emerge from a joint process. The joint processing costs that are incurred up to the split-off point equal $1,200,000. The selling prices and outputs for each product at the split-off point are as follows: Product A B С Selling Price $33 per pound $29 per pound $24 per pound Product A B C Each product can be processed further beyond the split-off point. The additional processing costs for each product and their respective selling prices after further processing are as follows: Output 14,000 pounds 18,000 pounds 19,000 pounds Additional Processing Costs $65,000 $72,000 $88,000 Selling Price $37 per pound $34 per pound $30 per pound The company is trying to decide whether to retain or discontinue the entire joint manufacturing process. What is the financial advantage (disadvantage) of continuing to operate the entire joint manufacturing process?