Allocation of joint cost as per physical measure method. Given information: Joint cost is $120,000 per batch of output. Production per batch is 10,000 gallons.

Question

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Answer 1

Question

Chapter 16, Problem 16.19E

1.

To determine

To compute: Allocation of joint cost as per physical measure method.

Given information:

Joint cost is $120,000 per batch of output.

Production per batch is 10,000 gallons.

2.

To determine

To compute: Allocation of joint cost as per NRV method.

Given information:

Joint cost is $120,000 per batch of output.

Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons.

Selling price of product M is $21 and Product T is $14.

3.

To determine

To prepare: Product-line income statements per batch requirements 1 and 2.

4.

To determine

To prepare: Allocation of joint cost under NRV method.

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Answer 2

Question

Chapter 16, Problem 16.19E

1.

To determine

To compute: Allocation of joint cost as per physical measure method.

Given information:

Joint cost is $120,000 per batch of output.

Production per batch is 10,000 gallons.

2.

To determine

To compute: Allocation of joint cost as per NRV method.

Given information:

Joint cost is $120,000 per batch of output.

Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons.

Selling price of product M is $21 and Product T is $14.

3.

To determine

To prepare: Product-line income statements per batch requirements 1 and 2.

4.

To determine

To prepare: Allocation of joint cost under NRV method.

Expert Solution & Answer

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Answer 3

Question

Chapter 16, Problem 16.19E

1.

To determine

To compute: Allocation of joint cost as per physical measure method.

Given information:

Joint cost is $120,000 per batch of output.

Production per batch is 10,000 gallons.

2.

To determine

To compute: Allocation of joint cost as per NRV method.

Given information:

Joint cost is $120,000 per batch of output.

Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons.

Selling price of product M is $21 and Product T is $14.

3.

To determine

To prepare: Product-line income statements per batch requirements 1 and 2.

4.

To determine

To prepare: Allocation of joint cost under NRV method.

Expert Solution & Answer

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Answer 4

Question

Chapter 16, Problem 16.19E

1.

To determine

To compute: Allocation of joint cost as per physical measure method.

Given information:

Joint cost is $120,000 per batch of output.

Production per batch is 10,000 gallons.

2.

To determine

To compute: Allocation of joint cost as per NRV method.

Given information:

Joint cost is $120,000 per batch of output.

Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons.

Selling price of product M is $21 and Product T is $14.

3.

To determine

To prepare: Product-line income statements per batch requirements 1 and 2.

4.

To determine

To prepare: Allocation of joint cost under NRV method.

Expert Solution & Answer

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See solution

Answer 5

Chapter 16, Problem 16.19E

1.

To determine

To compute: Allocation of joint cost as per physical measure method.

Given information:

Joint cost is $120,000 per batch of output.

Production per batch is 10,000 gallons.

2.

To determine

To compute: Allocation of joint cost as per NRV method.

Given information:

Joint cost is $120,000 per batch of output.

Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons.

Selling price of product M is $21 and Product T is $14.

3.

To determine

To prepare: Product-line income statements per batch requirements 1 and 2.

4.

To determine

To prepare: Allocation of joint cost under NRV method.

Answer 6

Chapter 16, Problem 16.19E

1.

To determine

To compute: Allocation of joint cost as per physical measure method.

Given information:

Joint cost is $120,000 per batch of output.

Production per batch is 10,000 gallons.

Answer 7

Chapter 16, Problem 16.19E

1.

To determine

To compute: Allocation of joint cost as per physical measure method.

Given information:

Joint cost is $120,000 per batch of output.

Production per batch is 10,000 gallons.

Answer 8

2.

To determine

To compute: Allocation of joint cost as per NRV method.

Given information:

Joint cost is $120,000 per batch of output.

Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons.

Selling price of product M is $21 and Product T is $14.

Answer 9

2.

To determine

To compute: Allocation of joint cost as per NRV method.

Given information:

Joint cost is $120,000 per batch of output.

Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons.

Selling price of product M is $21 and Product T is $14.

Answer 10

3.

To determine

To prepare: Product-line income statements per batch requirements 1 and 2.

Answer 11

3.

To determine

To prepare: Product-line income statements per batch requirements 1 and 2.

Answer 12

4.

To determine

To prepare: Allocation of joint cost under NRV method.

Answer 13

4.

To determine

To prepare: Allocation of joint cost under NRV method.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 16 - Give two examples of industries in which joint...Ch. 16 - What is a joint cost? What is a separable cost?Ch. 16 - Distinguish between a joint product and a...Ch. 16 - Why might the number of products in a joint-cost...Ch. 16 - Provide three reasons for allocating joint costs...Ch. 16 - Why does the sales value at splitoff method use...Ch. 16 - Prob. 16.7Q Ch. 16 - Distinguish between the sales value at splitoff...Ch. 16 - Give two limitations of the physical-measure...Ch. 16 - How might a company simplify its use of the NRV...

Allocation of joint cost as per physical measure method. Given information: Joint cost is $120,000 per batch of output. Production per batch is 10,000 gallons.

To compute: Allocation of joint cost as per physical measure method. Given information: Joint cost is $120,000 per batch of output. Production per batch is 10,000 gallons.

To compute: Allocation of joint cost as per NRV method. Given information: Joint cost is $120,000 per batch of output. Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons. Selling price of product M is $21 and Product T is $14.

To prepare: Product-line income statements per batch requirements 1 and 2.

To prepare: Allocation of joint cost under NRV method.

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Chapter 16 Solutions

To compute: Allocation of joint cost as per physical measure method.

Given information:

Joint cost is $120,000 per batch of output.

Production per batch is 10,000 gallons.

To compute: Allocation of joint cost as per NRV method.

Given information:

Joint cost is $120,000 per batch of output.

Production of product M is computed to be 2,500 gallons and product T is computed to be 7,500 gallons.

Selling price of product M is $21 and Product T is $14.