Homework Help is Here – Start Your Trial Now!
Business
Accounting
What is the share in joint cost for Products X and Y? A. 60,000 and 45,000 B. 53,933 and 47,191 C. 60.000 and 40,000 D. 40,000 and 40,000 2. What is the amount of the ending inventories of Product X and Z? A. 5,000 and 375

What is the share in joint cost for Products X and Y? A. 60,000 and 45,000 B. 53,933 and 47,191 C. 60.000 and 40,000 D. 40,000 and 40,000 2. What is the amount of the ending inventories of Product X and Z? A. 5,000 and 375

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Solution to this please!  About joint costing in accounting.

1. What is the share in joint cost for Products X and Y?
A. 60,000 and 45,000
B. 53,933 and 47,191
C. 60.000 and 40,000
D. 40,000 and 40,000

2. What is the amount of the ending inventories of Product X and Z?
A. 5,000 and 375
B. 5,833 and 5,900
C. 5,000 and 5,900
D. 5,833 and 500

HBC MANUFACTURING Company manufactures products X, Y and Z from a joint process. Additional information is as follows: Total 24,000 Product X Product Y Product Z Units produced 12,000 ? 4,000 P 120,000 P 178,000 P 29,000 P 269,000 1,900 Joint costs ? ? ? Sales value at split-off Further processing cost P 80,000 P 10,000 P 130,000 P 28,000 P 5,000 P 35,000 ? P 14,000 P 104,000 Final sales value Units on hand 1,000 800 100 Joint costs were allocated using the estimated net realizable value approach.
Transcribed Image Text:HBC MANUFACTURING Company manufactures products X, Y and Z from a joint process. Additional information is as follows: Total 24,000 Product X Product Y Product Z Units produced 12,000 ? 4,000 P 120,000 P 178,000 P 29,000 P 269,000 1,900 Joint costs ? ? ? Sales value at split-off Further processing cost P 80,000 P 10,000 P 130,000 P 28,000 P 5,000 P 35,000 ? P 14,000 P 104,000 Final sales value Units on hand 1,000 800 100 Joint costs were allocated using the estimated net realizable value approach.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Quality control
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS