The Kenton Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. Thefollowing information was collected for the month of June:Direct Materials processed: 27,500 gallons (after shrinkage)Production:Sales:Sales Price:Separable costs in total:A.$35,600B. $19,428Butter CreamC. $33,580Condensed MilkD. $13,000Butter CreamCondensed MilkButter CreamCondensed MilkButter CreamCondensed Milk12,50015,000 gallons12,00014,500$4.50$8.00$13,000gallons$35,600The cost of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 27,500 gallonsof saleable product was $53,000.gallonsThe company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is theallocated joint costs of Butter Cream? (Round intermediary percentages to the nearest hundredth.)gallonsper gallonper gallon

Joint cost refers to the common costs incurred in a production process where multiple products are…

Answered: The company uses constant gross-margin…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The company accounts for the revenues from its by-product sales as other income. Additional information follows: Units produced Allocated joint costs Sales value at split-off DF1 DF2 BP DF1 27,300 ? DF2 18,300 ? $ 563,250 $ 187,750 Joint Cost BP 15,300 ? $ 102,300 Total Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated to each of the joint products DF1 and DF2 and to the by-product, BP? Note: Do not round intermediate calculations. 60,900 $ 560,300 $ 853,300
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Krispies Ltd manufactures and sells three products which have the following revenue and costs per unit: Snap Crackle Pop R R Selling price per unit 15 20 12 Variable cost per unit 10 13 6 Fixed cost per unit Unit fixed costs are based on the following sales volumes: Snap -– 15 000 units Crackle – 12 000 units Pop – 30 000 units Required: Calculate the aggregate break-even units and sales for Krispies Ltd. Round to two decimals.
[The following information applies to the questions displayed below.] Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 42,000 units of each product. Income statements for each product follow. Sales Variable costs Contribution margin Fixed costs Income Problem 18-4A (Algo) Part 1 Required: 1. Compute the break-even point in dollar sales for each product. (Enter CM ratlo as percentage rounded to 2 decimal places.) Contribution Margin Ratio Numerator: Break-Even Point in Dollars Numerator: Contribution Margin Ratio Break-Even Point in Dollars 1 1 1 1 Carvings $ 747,600 523,320 224,280 Mementos $ 747,600 149,520 598,080 108,280 482,080 $ 116,000 $ 116,000 1 PRODUCT CARVINGS Denominator: Denominator: PRODUCT MEMENTOS = IL 11 Contribution margin ratio Break-even point in dollars Contribution margin ratio Break-even point…
A company produces customary products as per the specifications of its customers wish. The cost for unit one, variable cost amounts to 4,000, labor cost 2,000 (40 hrs. @ rate of 50 hour). LC ratio will be presumed at ninety percent. Company has the policy where it will deploy only one labor for an order. Price per product to be quoted for the customer where the required contribution target is 3,000 per unit.
Please show me your solution so I can check mine. Thanks! ANC Inc. manufactures products S and T from a joint process. The sales value at split-off was P50,000 for 6,000 units of product S and P25,000 for 2,000 units of product T. Assuming that portion of the total joint costs properly allocated to product S using the relative sale value at split-off approach was P30,000, what were the total joint costs?
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The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Butter Cream? (Round intermediary percentages to the nearest hundredth.)