Atkinson, Incorporated, manufactures products A, B, and C from a common process. Joint costs were $141,900. Additional information is as follows: If Processed Further Additional Costs Sales Value at Product Units Produced ABC A 5,700 B 6,950 с 3,475 Split-Off $ 38,200 60,465 41,700 Sales Value $ 52,450 77,840 52,125 $ 3,800 10,425 13,900 16,125 $ 140,365 $ 182,415 $ 28,125 Assuming that joint production costs are allocated using the physical quantities method (units produced), what were the costs allocated to Product A? Note: Do not round intermediate calculations.
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- Eren Co. recovers three product from a joint process. in October 2020 the joint cost amounted to P250,000 other data will follow using the Physical Value how much Joint Cost will be allocated to E-1? This will pertain to #3 to #11PIz-3 Renton Corporation incurred total joint cost of P150.000 to manufacture three joint products, R, E ,and N. These products were further processed for an additional cost of P230,000 and then sold for P410,000 as follows: Additional Processing Costs (all variable) P100,000 80,000 50,000 P230,000 Product Sales P200,000 120,000 90,000 P410,000 N Renton received an offer to sell the products to other processors at split-off. If the offer was accepted, sales would have been: R, P110,000; E, P20,000; and N, P35,000. Rentòn forecasts the same production and sales level. Required: Did the net income increase as a result of processing the products further? How much is the overall net income? а. b. Which of the three products should be sold at split-off point? Which should be processed further? REThe meadows Company produced three joint.products at a joint cost of P132,000. Additional information for a recent period is as follows: Product Units produced Sales value Sales value and additional Processing if Processed Add'l Costs P19,800 15,400 11,000 At split-off 13,200 8,800 4,400 P88,000 77,000 55,000 Sales Value P121,000 99,000 66,000 Required: Allocate joint costs using: 1. Sales value at split-off 2. Physical units ABC
- P12-2 Valera Company incurred total joint costs amounting to P102,000 in producing products A, B, and C. Additional information are provided below: Additional Processing Costs Adjusted Market Market Disposal Costs value at Products Units Produced Value split-off P15.00 P20,000 30,000 10,000 P60,000 А P19.00 4,000 6,000 10,000 P5,000 2,000 1,000 P8,000 В 10.00 11.00 8.00 9.60 20,000 Required: Calculate the total production cost using: Quantitative or physical unit method a. b. Sales value at split-off method C. Net realizable value (or adjusted sales value) methodBSBA Company produced two joint products A and B. and by-products and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20.000; 30,000: 5.000 and 5,000); Unit sold (18.000: 25.000; 5,000 and 5.000); Final unit selling prices (P25.00: P20.00; 2.00 and P1.50): Further processing costs (P150.000; P210.000; P5,000 and P4,000); Selling and Administrative expenses (P15,000: P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the joint costs are allocated to by-products using the reversal cost method, what is the total costs of by products?* P11,136 P12,036 P13,100 P14,000 BSBA Company produced two joint products A and B. and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced…BSBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as foliows: Units produced (20.000; 30,000; 5,000 and 5,000); Unit sold (18.000; 25,000; 5,000 and 5,000): Final unit selling prices (P25.00: P20.00; P2.00 and P1.50): Further processing costs (P150,000; P210.000; P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000: P500 and P400); Desired profit on Cand D (P2.000 and P1,500). If the joint costs are allocated to by-products using the reversal cost method, what is the total costs of by products? P11,136 P12,036 P13,100 P14,000 ESBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced…
- ESBA Company produced two joint products A and E. and by-products and D from the same raw materials with Jointcosts P200.000. The ertity uses net realizabe value in allocatingjoirt costs to joint products. Other informaticin are as foilows: Units produced (20.000: 30.000: 5.000 and 5.000) Unit soid (18.000. 25.000: 5.000 and 5.000): Final unit selling prices (P25.00: P20.00. P200 and P1.50): Further processing costs (PI50.000; P210.0oC: P5.000 and P4.000); Selling and Administrative expenses (P15.000: P21.000: PS00 and P400): Desred profiton Cand D (P2.000 and P1500). irthenetproceeds of sale of by-products are prasented as reduetion from cost of goods sold of the main products, what is the amount of operating proft from joint products orly? P438.589 PABR300 P432836 F430,989TB MC Qu. 7-38 (Algo) Joint costs allocated to product X using the physical measure method: Split Company Split Company produces three products — X, Y, and Z - from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $154,000. Sales values and costs needed to evaluate Split's production policy follow. Product X y Z Units Produced 11,000 5,500 11,000 O Multiple Choice $59,600. $26,800. The amount of joint costs allocated to product X using the physical measure method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): $30,800. $92,400. Sales Value at Split Off $ 48,500 40,500 50,000 $61,600. If Processed…2. British Co. recovers three products from a joint process in October 20xx, the joint costs amounted to P 250,000. Other data follow: Quantities After Split-off costs Ultimate market value W-1 3,000 P 50,000 150,000 W-2 4,000 P 75,000 275,000 W-3 3,000 126 P 125,000 225,000 Using the market value method of joint cost allocation, production costs of W-1, W-2 and W- 3, respectively, are?
- BSBA Company produced two joint products A and B. and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20.000: 30.000: 5,000 and 5,000); Unit sold (18.000: 25.000: 5.000 and 5,000): Final unit selling prices (P25.00: P20.00: P2.00 and P1.50); Further processing costs (P150,000; P210.000: P5.000 and P4.000); Selling and Administrative expenses (P15,000; P21.000; P500 and P400); Desired profit on Cand D (P2.000 and P1,500). If the by-products are presented as other income. what is the total amount of net sales and cost of goods sold, respectively? P950,000 and P475411 P950,000 and P483,011 P957,600 and P475,411 P957,600 and P483,011 ESBA Company produced two joint products A and B, and by-products C and D from the same raw materials with joint costs P200.000. The entity uses net realizable value in allocating joint costs to joint…Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced Product Chem-1 Chem-2 Chem-3 Chem-4 302,000 190,000 206,000 158,000 856,000 NRV at Split- Off If Processed Further Sales Value at Additional Split-Off Costs $ 234,000 278,000 163,600 260,400 $ 936,000 Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Joint Costs Allocated $ 34,100 30,800 26,300 27,700 $ 118,900 Sales Values $ 274,000 304,000 194,000 284,000 $ 1,056,000 ‒‒‒P12-1 Toronto Company produces two products from a joint process: X and Y. The joint processing cost for June 2015 production cycle amounted to P40,000. Per Yard Further Final sales Sales price at Disposal cost split-off P70.00 processing cost P2.50 Yards at split-off price 1,200 P61.00 P12.00 2,800 45.00 15.00 5.40 64.00 Required: Allocate the joint costs to products X and Y using the following method: Physical output Sales value at split-off point а. b. С. Net realizable value at split off