Hi expart Provide accounting question correct solution Tango Company produces joint products M, N, and T from a jointprocess. The following table shows information concerning a batchproduced in April at a joint cost of $170,000. How much of the jointcost should be allocated to Product M using the net realizable valuemethod?After Split-OffAfter Split-OffProduced Total Separable Total Final SalesUnitsProductand SoldCostsValueM15,000$22,000$210,000N9,00010,000190,000T10,0003,00035,000

Step 1: Define Cost allocationThe process of locating, gathering, and allocating expenses to certain…

Answered: Tango Company produces joint products…

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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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.
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $175,000: After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M $ 18, 200 N T 14,600 3,200 Product 15,500 9,500 10,500 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations. Enter your final answers in whole dollars.) M N T $ 215,000 195,000 36,000 Allocated Joint Cost
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $120,000. After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M $ 10,000 N T Product M 10,000 4,000 5,000 N T Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations. Enter your final answers in whole dollars.) 10,000 5,000 Allocated Joint Cost $ 160,000 140,000 25,000
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $135,000: Product Units Produced and Sold M ZE N T 11,500 5,500 6,500 Product M N T After Split-Off Allocated Joint Cost Total Separable Costs $ 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? (Do not round intermediate calculations. Enter your final answers in whole dollars.) Total Final Sales Value $175,000 155,000 28,000
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $190,000: Product Units Produced and Sold After Split-Off Total Separable Costs Total Final Sales Value M 17,000 $ 18,800 $ 230,000 N 11,000 16,400 210,000 T 12,000 3,800 39,000 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method?
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $175,000: Product Units Produced and Sold After Split-Off Total Separable Costs Total Final Sales Value M 15,500 $ 18,200 $ 215,000 N 9,500 14,600 195,000 T 10,500 3,200 36,000 How much of the joint cost should be allocated to each joint product using the net realizable value method?
The Armstrong Company uses a joint process to produce products A, B, C, and D. Each product may be sold at its split-off point or processed further. Joint processing costs for a single batch of joint products are $120,000. Other relevant data are: Additional Sales Value Sales Value at Product Processing After Split-Off Costs Processing A $25,000 $12,000 $48,000 B 24,000 16,000 36,000 C 44,000 28,000 70,000 D 17,000 10,000 32,000 Determine when each product should be sold. Show calculations to support your answers.
Batches Incorporated produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of $115.000 was as follows: Separable Processing cost Units Produced Sales Value (after additional processing) Multiple Choice $15,779 The amount of joint costs allocated to product L using the net realizable value 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): O $16,853 $ 14,000 $ 33,000 2,800 6,500 $ 76,000 $ 70,000 $36,681 N $ 14,000 5,900 $ 31,000 Total $ 61,000 15,200 $ 177,000 B
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?
ABC Company produces joint products X and Y, each of which incurs separable production costs after the split-off point. Information concerning a batch produced at a joint cost of $160,000 before split-off follows: Product X Y Total Separable costs $ 14,000 25,000 $ 39,000 Sales value $ 68,000 61,000 $ 129,000 What is the joint cost assigned to product line X if costs are assigned using relative net realizable value? a. $160,000 b. $64,000 C. $90,000 d. $96,000
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $165,000: Product M N Product M Units Produced and Sold 14,500 N T 8,500 9,500 After Split-Off Allocated Joint Cost Total Separable Costs $ 13,900 13,400 6,700 Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations. Enter your final answers in whole dollars.) Total Final Sales Value $ 205,000 185,000 34,000
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $190,000: Product M N T Units Produced and Sold 17,000 11,000 12,000 Product M N T Allocated Joint Cost After Split-Off Total Separable Costs $ 18,800 16,400 3,800 Total Final Sales. Value Required: How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do not round intermediate calculations. Enter your final answers in whole dollars.) $ 230,000 210,000 39,000

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