Benjamin CompanyBenjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000.Sales priceDisposalFurtherper yard at cost per yard at processingsplit-offper yardYards split-offx 1,500Z 2,200Select one:$6.009.00a. $5,610b. $2,390c. $5,500d. $4,000$3.505.00$1.003,00Refer to Benjamin Company. Using net realizable value at split-off, what amount of joint processing cost is allocated to Product X (round to thenearest dollar)?Final saleprice peryard$7.5011.25

Joint costs means the costs incurred in producing multiple products simultaneously from the same raw…

Benjamin Company Benjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000. Yards x 1,500 2 2.200 Sales price Disposal Further per yard at cost per yard at processing split-off split-off per yard Select one: a $5,610 $6.00 9.00 b. $2.390 c. $5.500 d. $4,000 $3.50 5.00 $1.00 3.00 Refer to Benjamin Company. Using net realizable value at split-off, what amount of joint processing cost is allocated to Product X (round to the nearest dollar)? Final sale price per yard $7.50 11.25

Benjamin Company Benjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000. Yards x 1,500 2 2.200 Sales price Disposal Further per yard at cost per yard at processing split-off split-off per yard Select one: a $5,610 $6.00 9.00 b. $2.390 c. $5.500 d. $4,000 $3.50 5.00 $1.00 3.00 Refer to Benjamin Company. Using net realizable value at split-off, what amount of joint processing cost is allocated to Product X (round to the nearest dollar)? Final sale price per yard $7.50 11.25

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter19: Support Department And Joint Cost Allocation

Section: Chapter Questions

Problem 4CMA: Tucariz Company processes Duo into two joint products, Big and Mini. Duo is purchased in...

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Pacheco, Inc., produces two products, overs and unders, in a single process. The joint costs of this process were 50,000, and 14,000 units of overs and 36,000 units of unders were produced. Separable processing costs beyond the split-off point were as follows: overs, 18,000; unders, 23,040. Overs sell for 2.00 per unit; unders sell for 3.14 per unit. Required: 1. Allocate the 50,000 joint costs using the estimated net realizable value method. 2. Suppose that overs could be sold at the split-off point for 1.80 per unit. Should Pacheco sell overs at split-off or process them further? Show supporting computations.
Board-It, Inc., produces the following types of 2 4 10 wood boards: washed, stained, and pressure treated. These products are produced jointly until they are cut. One batch produces 45 washed boards, 35 stained boards, and 20 pressure treated boards. The joint production process costs a total of 710 per batch. Using the physical units method, allocate the joint production cost to each product.
Wrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units of Simple and 146,100 of Removable, and the overhead for each of its cost pools is as follows: It has also estimated the activities for each cost driver as follows: Â How much is the overhead allocated to each unit of Simple and Removable?
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
Oakes Inc. manufactured 40,000 gallons of Mononate and 60,000 gallons of Beracyl in a joint production process, incurring 250,000 of joint costs. Oakes allocates joint costs based on the physical volume of each product produced. Mononate and Beracyl can each be sold at the split-off point in a semifinished state or, alternatively, processed further. Additional data about the two products are as follows: An assistant in the companys cost accounting department was overheard saying ...that when both joint and separable costs are considered, the firm has no business processing either product beyond the split-off point. The extra revenue is simply not worth the effort. Which of the following strategies should be recommended for Oakes?
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
Benjamin CompanyBenjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000. Yards Sales priceper yard atsplit-off Disposalcost per yard atsplit-off Furtherprocessingper yard Final saleprice peryard X 1,500 $6.00 $3.50 $1.00 $7.50 Z 2,200 9.00 5.00 3.00 11.25 If X and Z are processed further, no disposal costs will be incurred or such costs will be borne by the buyer. Refer to Benjamin Company. Using sales value at split-off, what amount of joint processing cost is allocated to Product X (round to the nearest dollar)? Select one: a. $2,500 b. $3,243 c. $4,000 d. $5,500
Benjamin CompanyBenjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000. Yards Sales priceper yard atsplit-off Disposalcost per yard atsplit-off Furtherprocessingper yard Final saleprice peryard X 1,500 $6.00 $3.50 $1.00 $7.50 Z 2,200 9.00 5.00 3.00 11.25 If X and Z are processed further, no disposal costs will be incurred or such costs will be borne by the buyer. Refer to Benjamin Company. Using a physical measure, what amount of joint processing cost is allocated to Product Z (round to the nearest dollar)? Select one: a. $5,500 b. $4,757 c. $4,000 d. $3,243
Benjamin CompanyBenjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000. Yards Sales priceper yard atsplit-off Disposalcost per yard atsplit-off Furtherprocessingper yard Final saleprice peryard X 1,500 $6.00 $3.50 $1.00 $7.50 Z 2,200 9.00 5.00 3.00 11.25 If X and Z are processed further, no disposal costs will be incurred or such costs will be borne by the buyer. Refer to Benjamin Company. Using sales value at split-off, what amount of joint processing cost is allocated to Product Z (round to the nearest dollar)? Select one: a. $2,500 b. $4,000 c. $5,500 d. $4,757
Bennett Company produces two products from a joint process: A and C. Joint processing costs for this production cycle are $9,000. Yards Sales price per yard at split-off Disposal cost per yard at split-off Further processing per yard Final sale price per yard A 1,800 $7.00 $4.50 $1.50 $8.00 C 2,600 10.00 6.00 3.50 12.25 If A and C are processed further, no disposal costs will be incurred or such costs will be borne by the buyer. Refer to Bennett Company. Using sales value at split-off, what amount of joint processing cost is allocated to Product A (round to the nearest dollar)? $2,938 $6,062 $3,682 $4,500
Kapangan Inc. manufactures products R, S and T from a joint process. Additional information follows: wwwwww u www R ТОTAL Units 8,000 4,000 14,000 P18,000 P120,000 ? P200,000 2,000 Joint Costs ? ? Sales value @ split-off P120,000 ? Further Processing costs P14,000 P10,000 P6,000 P30,000 Sales value of FG P140,000 Р60,000 P50,000 P250,000 Using the sale value at split-off, how much is the: joint cost allocated to S?
Firm X has a production process that has a total joint cost of $14,000. At the split-off point, there are 1,000 pounds of Product 1and 3,000 pounds of Product 2 What is the cost per pound of Product 1 using the physical measure method? Multiple Cholce $3.00. $3.50. $4.00. $4.50. $4.25.