00:59 : 2XYZ Manufacturing purchases trees from ABC company and processes them up to thesplit off point where two products (paper and pencil casings) are obtained. Theproducts are then sold to an independent company that markets and distributes themto retail outlets. The following information was collected for the month of November:Joint CostsJoint Costs (The cost of purchasing 100 trees$3,000and processing them up to the split off pointPaperPencil CasingsBeginning inventoryProduction60,00058,00060,000Sales60,000Ending inventorySelling price2,000$0.04s0.10Question 125What is the sales value at the splitoff peint of the pencil casings?$7.500Pocherelo searh Ending inventory2,000Selling price$0.04$0.10Question 2/ 25If the sales value at splitoff method is used, what is the approximate production cost for each pencil casing?1. O s0.0250O S0.0255O S0.0335O s0.03572.3.4.Question 3 / 25What is the sales value at the splitoff point for paper?1. O$2402. O$2,320O S2,4004. OS3,9003.Question 4 / 25If the sales value at splitoff method is used, what are the approximate joint costs assigned to ending inventory forpaper?1. O$28.58Os100.00OS870.004 O$1,500.002.3.Question 5/ 25What is the sales value at the splitoff point of the pencil casings?1.$600O $2,460S6 002.922Wa Q) ENG1/20pe here to search

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XYZ Manufacturing purchases trees from ABC company and split off point where two products (paper and pencil casings) are obtained. TH products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of November: Joint Costs Joint Costs (The cost of purchasing 100 trees and processing them up to the split off point $3,000 Paper Pencil Casings Beginning inventory Production Sales Ending inventory Selling price 60,000 60,000 58,000 60,000 2,000 $0.04 $0.10 Qurstin25 What the ales valae at e pio peint of the penil calag? $4000 ST.500

XYZ Manufacturing purchases trees from ABC company and split off point where two products (paper and pencil casings) are obtained. TH products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of November: Joint Costs Joint Costs (The cost of purchasing 100 trees and processing them up to the split off point $3,000 Paper Pencil Casings Beginning inventory Production Sales Ending inventory Selling price 60,000 60,000 58,000 60,000 2,000 $0.04 $0.10 Qurstin25 What the ales valae at e pio peint of the penil calag? $4000 ST.500

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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