Exercise 11-46 (Algo) Net Realizable Value Method with By-Products (LO 11-3, 5)Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The companyaccounts for the revenues from its by-product sales as other income. Additional information follows:Units producedAllocated joint costaSales value at split-offDF1DF2BPDF128,200?$ 570,000Joint CostDF219,200.2BP16,2002$ 190,000 $ 103,200Required:Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated toeach of the joint products DF1 and DF2 and to the by-product, BP?Note: Do not round intermediate calculations.Total5063,600$ 561,200$ 863,200

Joint cost means the cost incurred to produce more than one units and then joint cost need to be…

Exercise 11-46 (Algo) Net Realizable Value Method with By-Products (LO 11-3, 5) Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The company accounts for the revenues from its by-product sales as other income. Additional information follows: Units produced Allocated joint costs Sales value at split-off DF1 DF2 BP DF2 19,200 ? $570,000 $ 190,000 Joint Cost DF1 28,200 ? BP 16,200 2 $ 103,200 Total Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated to each of the joint products DF1 and DF2 and to the by-product, BP? Note: Do not round intermediate calculations. 63,600 $ 561,200 $ 863,200

Exercise 11-46 (Algo) Net Realizable Value Method with By-Products (LO 11-3, 5) Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The company accounts for the revenues from its by-product sales as other income. Additional information follows: Units produced Allocated joint costs Sales value at split-off DF1 DF2 BP DF2 19,200 ? $570,000 $ 190,000 Joint Cost DF1 28,200 ? BP 16,200 2 $ 103,200 Total Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated to each of the joint products DF1 and DF2 and to the by-product, BP? Note: Do not round intermediate calculations. 63,600 $ 561,200 $ 863,200

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter8: Tactical Decision-making And Relevant Analysis

Section: Chapter Questions

Problem 45E

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Exercise 11-46 (Algo) Net Realizable Value Method with By-Products (LO 11-3, 5) Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The company accounts for the revenues from its by-product sales as other income. Additional information follows: Units produced Allocated joint costs Sales value at split-off DF1 DF2 BP DF1 27,200 ? $ 562,500 $ 187,500 Joint Cost DF2 18,200 ? BP 15,200 ? $ 102,200 Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated to each of the joint products DF1 and DF2 and to the by-product, BP? Note: Do not round intermediate calculations. Total 60,600 $ 560,200 $ 852,200
Exercise 11-47 (Algo) Net Realizable Value Method with By-Products (LO 11-7, 10) Butterfly Corp. manufactures products M1 and M2 from a joint process, which also yields a by-product, B1. Butterfly accounts for the revenues from its by-product sales as other income. Additional information follows: M1 24,400 ? M2 13,800 ? Joint cost of product M1 B1 9,600 ? Units produced Allocated joint costs Sales value at split-off $378,000 $252,000 $96,000 Total 47,800 $352,000 $726,000 Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what was the joint cost allocated to product M1? (Do not round intermediate calculations.)
2. BZD Company manufactures products A and B from a joint process which also yields a by- product, X. BZD accounts for the revenues from its by-product sales as a deduction from the cost of goods sold of its main products. Additional information is as follows: A B X TOTAL Units produced 15,000 9,000 6,000 30,000 Joint costs ? ? ? P264,000 Sales value at split-off P290,000 P150,000 P 10,000 P450,000 Assuming that joint product costs are allocated using the relative sales value at split-off approach, what were the joint costs allocated to products A_____________________ B___________________ X__________________
sold at P16 per unit, while the company was able to sell 600 units of the by-product. Selling and administrative expenses related to the main product amounted to P18,000. Disposal cost per unit of the by-product i hapter 14 614 allocated to Product A? P11,225 P10,525 a. b. P 8,225 P 9,525 с. d. 57. Using the net realizable value at split-off, what is the allocated joins cost to Product C? P15,605 b. a. P14,711 P15,750 d. P14,500 C. Use the following information in answering numbers 58 – 61: The J&J Chemical Company produces a product known as "VITAMIX" from which a by-products results. This by-product can be sold at P4.14 per unit. The manufacturing costs of the main product and by-product up to the point of separation for the three months ended March 31, 2018 follows: Materials Labor Overhead P50,000 40,000 30,000 The units produced were 15,000 units for the main product and 900 ume for the by-product. During the period 12,000 units of the "VITAMIX" were P1.75. is
TB MC Qu. 7-66 (Algo) Joint costs allocated to product DBB-1 using the physical measure method: Double Company Double Company produces three products - DBB-1, DBB-2, and DBB-3 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. Key information about Double's production, sales, and costs follows. Units Sold Price (after additional processing) Separable Processing cost Units Produced Total Joint Cost Sales Price at Split-off Multiple Choice $783,333. $812,973. $1,727,568. The amount of joint costs allocated to product DBB-1 using the physical measure method is: $1,253,333. DBB-1 19, 200 $ 65 $ 142,000 19, 200 $1,219,459. $ 25 DBB-2 28,800 $ 50 $ 76,000 28,800 $ 35 DBB-3 40,800 $75 $ 98,000 40,800 $ 55 Total 88,800 $ 316,000 88,800 $ 3,760,000
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 70,000 to 110,000 units is given below: ces Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 100,000 units during the year at a selling price of $8.80 per unit. Prepare a contribution format income statement for the year. Mc Graw Hill showers Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 70,000 Units…
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement (LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 51,000 to 91,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 81,000 units during the year at a selling price of $9.09 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 71,000 Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost Fixed cost Total cost per unit S S $1,000…
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 53,000 to 93,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 83,000 units during the year at a selling price of $9.86 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) 53,000 Units Produced and Sold 73,000 Units Produced and Sold 93,000 Units Produced and Sold Total cost: Variable cost $ 143,100 Fixed cost 450,000…
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 55,000 to 95,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 85,000 units during the year at a selling price of $8.90 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit $ $ 55,000 Units Produced and Sold 75,000…
TB 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…
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 67,000 to 107,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume the company produces and sells 97,000 units during the year at a selling price of $8.83 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. Note: Round the per unit variable cost and fixed cost to 2 decimal places. Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit $ $ $ 67,000 Units Produced and Sold 87,000…
CONSO Inc. manufactures joint products ALT and TAB, and a by-product DEL. Costs are assigned to the joint products by the net realizable value or final market value method which considers further processing costs in subsequent operations. It is the policy of CONSO Inc. to account for its by-product by market value or reversal cost method or deduction of net realizable value of by-product from the joint manufacturing costs of main products. The total manufacturing costs for 100,000 units were Php 1,520,000.00 during the year. Production and costs data follow: (a)Product Name: ALT, units produced:60,000, sales price per unit: Php 70.00, Further processing cost per unit Php 20.00 (b)Product Name: TAB, units produced:30,000, sales price per unit: Php 25.00, Further processing cost per unit Php 5.00 (C)Product Name: DEL, units produced:10,000, sales price per unit: Php 10.00, Further processing cost per unit Php 30.00, Selling and admin expense per unit, Php 5.00. 1.What is the value of DEL…