The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $198,000. Additional information follows. If Processed Further Units Sales Value at Product Produced KA KB KC 85,000 59,500 25,500 Split-off $268,000 234,500 167,500 Sales Values Additional Costs $52,000 44,000 33,000 $340,000 270,000 210,000 Required: a. Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product KA (including $52,000 if processed further)? b. Assuming that joint product costs are allocated using the sales value at split-off (net realizable value method), what was the total cost of product KB (including the $44,000 if processed further)? Required A Required B Complete this question by entering your answers in the tabs below. Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product KA (including $52,000 if processed further)? (Do not round intermediate calculations.) Total cost of product KA Assessment Tool iFrame

The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $198,000. Additional information follows. If Processed Further Units Sales Value at Product Produced KA KB KC 85,000 59,500 25,500 Split-off $268,000 234,500 167,500 Sales Values Additional Costs $52,000 44,000 33,000 $340,000 270,000 210,000 Required: a. Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product KA (including $52,000 if processed further)? b. Assuming that joint product costs are allocated using the sales value at split-off (net realizable value method), what was the total cost of product KB (including the $44,000 if processed further)? Required A Required B Complete this question by entering your answers in the tabs below. Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product KA (including $52,000 if processed further)? (Do not round intermediate calculations.) Total cost of product KA Assessment Tool iFrame

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

! Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period 1 Units Produced Total Costs 0 $ 2,820 123456789 200 3,660 400 4,500 600 5,340 800 6,180 1,000 7,020 1,200 7,860 1,400 8,700 1,600 9,540 10 1,800 10,380 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 2,820 units are produced.
e. $5,752.10. Company XYZ has total prime cost of $21,000 and total conversion cost of $42,000. Assume that manufacturing overhead cost is three times the direct labor cost, how much is the direct materials cost? Select one: O a. None of the given answer O b. 21,000 O c. 10,500 O d. 12,000 O e. 31,500
Joint products A and B emerge from common processing costs of $100,000 and yield 2, 000 units of Product A and 1,000 units of Product B. Product A can be sold for $100 per unit. Product B can be sold for $120 per unit. The amount of joint costs allocated to Product A if joint costs are allocated on the basis of relative sales value will be $ (rounded to nearest dollar
The following information relates to a joint production process for three products, with a total joint production cost of $145,000. There are no separable processing costs for any of the three products. Sales value at split off Units at Split off 1 $174,000 560 2 72,500 980 3 43,500 1260 total 290,000 2800 Assume that the total sales value at the split-off point for product 1 is $72,500 instead of $174,000 and the sales value of product 3 is $2,900 instead of $43,500. 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.)
Allocating Joint Costs Using the Net Realizable Value Method Please answer in same format as question.
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?
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.
Subject: acounting
Division X of Bella Corporation sells Part A to other companies for $87.20 per unit. According to the company's accounting system, the costs to Division X to make a unit of Part A are: O $87.20 per unit O $62.60 per unit O $58.10 per unit O $79.95 per unit O None of the above Direct materials Direct labor $5.80 Variable Division Y of Bella Corporation uses a part much like Part A in one of its products. Division Y can buy this part from an outside supplier for $79.95 per unit. However, Division Y could use Part A instead of the part it purchases from the outside supplier. What is the most Division Y would be willing to pay the Division X for Part A? Question 21 $42.70 manufacturing $9.60 overhead Fixed manufacturing $4.50 overhead
Required: 1. A partially completed schedule of the company's total and per unit costs over the relevant range of 51,000 to 91,000 units produced and sold annually is given below: Complete the schedule of the company's total and unit costs. Round the variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 51,000 71,000 91,000 Total costs: Variable costs $ 168,300 Fixed costs 400,000 Total costs $ 568,300 Cost per unit: Variable cost Fixed cost Total cost per unit