Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch producedin April at a joint cost of $175,000:After Split-OffProduct Units Produced and Sold Total Separable Costs Total Final Sales ValueM$ 18, 200NT14,6003,200Product15,5009,50010,500Required:How much of the joint cost should be allocated to each joint product using the net realizable value method? (Do notround intermediate calculations. Enter your final answers in whole dollars.)MNT$ 215,000195,00036,000AllocatedJoint 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 $175,000: After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M N T Product 15,500 9,500 10,500 M 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.) $ 18, 200 14, 600 3, 200 Allocated Joint Cost $ 215,000 195,000 36,000

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 $175,000: After Split-Off Product Units Produced and Sold Total Separable Costs Total Final Sales Value M N T Product 15,500 9,500 10,500 M 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.) $ 18, 200 14, 600 3, 200 Allocated Joint Cost $ 215,000 195,000 36,000

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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X Corp produces 200 units of A and 100 units of B products. Final sales amount of A is 9,000. Joint cost is 6,600. Cost beyond the split off point is 3,000 each for both A and B. Using NRV or adjusted sale value method, the computed unit cost of A is 22 per unit. What is the Final sales amount of product B?
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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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
The following information relates to a joint production process for three products, with a total joint production cost of $165,000. There are no separable processing costs for any of the three products. Product 1 2 Sales Value at Split-Off $ 181,500 Product 1 2 3 99,000 49,500 $ 330,000 Assume that the total sales value at the split-off point for product 1 is $66,000 instead of $181,500 and the sales value of product 3 is $3,300 instead of $49,500. Assume also that the firm treats product 3 as a joint product and uses the net realizable value method for accounting for joint costs. There are no separable processing costs for product 3. What amount of joint costs would be allocated to the three products using the relative sales value method? (Round your intermediate percentage values to 2 decimal places (i.e. 24.35%) and final answers to nearest whole dollar amount.) Units at Split-Off 320 960 1,920 3,200 Allocated Joint Cost