Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

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Answer 1

Question

Chapter 7, Problem 45P

1.

To determine

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

2.

To determine

Ascertain the most preferred method to compute the unit product cost ad gross margin.

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Additional information(a) All contributions received by the plan were paid by Flagstaff Ltd.(b) The interest rate used to measure the present value of the defined benefitobligation was 9% at 31 December 2019 and 31 December 2020.(c) The asset ceiling was nil at 31 December 2019 and 31 December 2020. Questiona) Determine the surplus or deficit of Flagstaff Ltd.’s defined benefit plan at 31 December2020 and determine the net defined benefit asset or liability that should be recognized by FlagstaffLtd at 31 December 2020 b) Calculate the net interest for 2020

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Answer 2

Question

Chapter 7, Problem 45P

1.

To determine

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

2.

To determine

Ascertain the most preferred method to compute the unit product cost ad gross margin.

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Answer 3

Question

Chapter 7, Problem 45P

1.

To determine

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

2.

To determine

Ascertain the most preferred method to compute the unit product cost ad gross margin.

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Answer 4

Question

Chapter 7, Problem 45P

1.

To determine

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

2.

To determine

Ascertain the most preferred method to compute the unit product cost ad gross margin.

Expert Solution & Answer

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Answer 5

Chapter 7, Problem 45P

1.

To determine

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

2.

To determine

Ascertain the most preferred method to compute the unit product cost ad gross margin.

Answer 6

Chapter 7, Problem 45P

1.

To determine

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

Answer 7

Chapter 7, Problem 45P

1.

To determine

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

Answer 8

2.

To determine

Ascertain the most preferred method to compute the unit product cost ad gross margin.

Answer 9

2.

To determine

Ascertain the most preferred method to compute the unit product cost ad gross margin.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 7 - Prob. 1Q Ch. 7 - Explain the difference between joint products and...Ch. 7 - Prob. 3Q Ch. 7 - What are the three methods of departmental cost...Ch. 7 - Prob. 5Q Ch. 7 - Prob. 6Q Ch. 7 - Prob. 7Q Ch. 7 - What are the limitations of joint product and...Ch. 7 - Prob. 9Q Ch. 7 - Prob. 10Q

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

Ascertain the unit cost and gross profit per unit if the joint costs are allocated on the basis of physical measure method, sales value at split-off method, net-realizable value method and constant gross margin percentage method.

Ascertain the most preferred method to compute the unit product cost ad gross margin.

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Chapter 7 Solutions