Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

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Chapter 8, Problem 2P

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Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

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Carichem Company produces sanitation products after processing specialized chemicals. The following relates to its activities:  1 Kilogram of chemicals purchased for $4000 and with an additional $2000 is processed into 400 grams of Crystals and 80 litres of a Cleaning agent. At split-off, a gram of Crystal can be sold for $2 and the Cleaning agent can be sold for $8 per litre.  At an additional cost of $800, Carichem can process the 400 grams of Crystal into 500 grams of Detergent that can be sold for $4 per gram. The 80 litres of Cleaning agent is packaged at an additional cost of $600 and made into 200 packs of Softener that can be sold for $4 per pack. Required: 1. Allocate the joint cost to the Detergent and the Softener using the following: a. Sales value at split-off method b. NRV method 2. Should Carichem have processed each of the products further? What effect does the allocation method have on this decision?

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Answer 2

Question

Chapter 8, Problem 2P

To determine

Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

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Answer 3

Question

Chapter 8, Problem 2P

To determine

Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

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Answer 4

Question

Chapter 8, Problem 2P

To determine

Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

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Answer 5

Chapter 8, Problem 2P

To determine

Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

Answer 6

Chapter 8, Problem 2P

To determine

Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

Answer 7

Chapter 8, Problem 2P

To determine

Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

Answer 8

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Ch. 8 - Prob. 1Q Ch. 8 - Prob. 2Q Ch. 8 - Prob. 3Q Ch. 8 - The management approach requires a firm to define...Ch. 8 - What is an operating segment?Ch. 8 - Prob. 6Q Ch. 8 - Prob. 7Q Ch. 8 - Prob. 8Q Ch. 8 - Prob. 9Q Ch. 8 - Prob. 10Q

Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

Solution Summary: The author identifies which of the following items of information a company is not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

Identify which of the following items of information is a company not required to disclose, even if it were material in amount under current U.S. accounting guidelines.

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Chapter 8 Solutions