Troester Manufacturing produces products X, Y, and Z from a joint process. Each product can be processed further and sold as X- Prime, Y-Prime, and Z-Prime. Information on the operations for the most recent period follows. Required: Determine the value of each missing item. The joint costs of $144,000 for X is the portion of the total joint cost of $288,000 that had been allocated to X. Note: Do not round intermediate calculations. Product Units produced Joint costs Sales value at split-off Additional costs to convert to Prime Sales value as Prime S X 76,800 144,000 33,600 $ 336,000 Y 38,400 24,000 184,000 $ Z 19,200 $ 72,000 14,400 96,000 $ Total 134,400 288,000 480,000 72,000 616,000

Troester Manufacturing produces products X, Y, and Z from a joint process. Each product can be processed further and sold as X- Prime, Y-Prime, and Z-Prime. Information on the operations for the most recent period follows. Required: Determine the value of each missing item. The joint costs of $144,000 for X is the portion of the total joint cost of $288,000 that had been allocated to X. Note: Do not round intermediate calculations. Product Units produced Joint costs Sales value at split-off Additional costs to convert to Prime Sales value as Prime S X 76,800 144,000 33,600 $ 336,000 Y 38,400 24,000 184,000 $ Z 19,200 $ 72,000 14,400 96,000 $ Total 134,400 288,000 480,000 72,000 616,000

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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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.)
Double Company produces three products — DBB-1, DBB-2, and DBB-3 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. Key information about Double's production, sales, and costs follows. DBB-1 DBB-2 DBB-3 Total Units Sold 16,200 24,300 36,300 76,800 Price (after additional processing) $ 65 $ 50 $ 75 Separable Processing cost $ 112,000 $ 46,000 $ 68,000 $ 226,000 Units Produced 16,200 24,300 36,300 76,800 Total Joint Cost $ 3,610,000 Sales Price at Split-off $ 25 $ 35 $ 55 The amount of joint costs allocated to product DBB-1 using the physical measure method is: Multiple Choice $752,083. $761,484. $1,706,289. $1,203,333. $1,142,227.
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?
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