et value of $15 per pound, 200 pounds of body lotion with a market value of $13 per pound, and 300 pounds of liquid soap with an 00,000 in joint costs. rcentages in intermediate steps to the nearest whole percentage. market value at split-off method, allocate the joint costs to: ream ation
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- 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?Scotland Beauty Products manufactures face cream, body lotion, and liquid soap in a joint manufacturing process. At the split-off point, the company has 300 pounds of face cream with a market value of $15 per pound, 200 pounds of body lotion with a market value of $13 per pound, and 300 pounds of liquid soap with a market value of $7 per pound and has incurred $200,000 in joint costs. The net realizable value (NRV) of the face cream is $7,500, the NRV of the body lotion is $3,500, and the NRV of the liquid soap is $4,000. Round percentages in intermediate steps to the nearest whole percentage. Using the net realizable value method, allocate the joint costs to: a. Face Cream b. Body Lotion c. Liquid SoapChoi Company manufactures two skin care lotions, Smooth Skin and Silken Skin, from a joint process. The joint costs incurred are $390,000 for a standard production run that generates 270,000 pints of Smooth Skin and 290,000 pints of Silken Skin. Smooth Skin sells for $2.30 per pint, while Silken Skin sells for $4.50 per pint. Required: 1. Assuming that both products are sold at the split-off point, how much of the joint cost of each production run is allocated to Smooth Skin using the relative sales value method? Check my work 2. If no separable costs are incurred after the split-off point, how much of the joint cost of each production run is allocated to Silken Skin using the physical measure method? 3. If separable processing costs beyond the split-off point are $1.20 per pint for Smooth Skin and $1.50 per pint for Silken Skin, how much of the joint cost of each production run is allocated to Silken Skin using a net realizable value method? 4. If separable processing costs beyond the…
- Scotland Beauty Products manufactures face cream, body lotion, and liquid soap in a joint manufacturing process. At the split-off point, the company has 300 pounds of face cream with a market value of $15 per pound, 200 pounds of body lotion with a market value of $13 per pound, and 300 pounds of liquid soap with a market value of $7 per pound and has incurred $200,000 in joint costs. Round percentages in Intermediate steps to the nearest whole percentage. Using the market value at split-off method, allocate the joint costs to: a. Face Cream $4 $4 b. Body Lotion $ c. Liquid SoapScotland Beauty Products manufactures face cream, body lotion, and liquid soap in a joint manufacturing process. At the split-off point, the company has 300 pounds of face cream with a market value of $15 per pound, 200 pounds of body lotion with a market value of $13 per pound, and 300 pounds of liquid soap with a market value of $7 per pound and has incurred $200,000 in joint costs. Round percentages in intermediate steps to the nearest whole percentage. Using the market value at split-off method, allocate the joint costs to: a. Face Cream $fill in the blank 1 b. Body Lotion $fill in the blank 2 c. Liquid Soap $fill in the blank 3Choi Company manufactures two skin care lotions, Smooth Skin and Silken Skin, from a joint process. The joint costs incurred are $360,000 for a standard production run that generates 170,000 pints of Smooth Skin and 300,000 pints of Silken Skin. Smooth Skin sells for $3.20 per pint, while Silken Skin sells for $5.20 per pint. Required: 1. Assuming that both products are sold at the split-off point, how much of the joint cost of each production run is allocated to Smooth Skin using the relative sales value method? 2. If no separable costs are incurred after the split-off point, how much of the joint cost of each production run is allocated to Silken Skin using the physical measure method? 3. If separable processing costs beyond the split-off point are $1.80 per pint for Smooth Skin and $1.70 per pint for Silken Skin, how much of the joint cost of each production run is allocated to Silken Skin using a net realizable value method? 4. If separable processing costs beyond the split-off…
- The XYZ Corp. manufactures pots, pans, and bowls from a joint process. May production is 4,000 pots, 7,000 pans, and 8,000 bowls. Respective per unit selling prices at split-off are $15, $10, $5. Joint costs up to the split-off point are $75,000. If joint costs are allocated based upon the sales (market) value at split-off, what amount of joint costs will be allocated to the pots?Healthy Eats produces three products from a single raw material. The total cost is $160,000 and the number of units for each product is as follows: Product A: 10,000 units Product B: 10,000 units Product C: 15,000 units Product A can be sold at the split-off point for $4 per unit, or it can be processed further at a cost of $25,000 and then sold for $10 per unit. Should product A be sold at the split-off point or processed further? Why?The Killian Company manufactures two skin care lotions, Liquid Skin and Silken Skin, out of a joint process. The joint (common) costs incurred are $420,000 for a standard production run that generates 180,000 gallons of Liquid Skin and 120,000 gallons of Silken Skin. Liquid Skin sells for $2.40 per gallon while Silken Skin sells for $3.90 per gallon. Assuming both products are sold at the split-off point, the amount of joint cost of each production run allocated to Liquid Skin on a net realizable value is? If there are additional costs are incurred after the split-off point, the amount of joint cost of each production run allocated to Silken Skin on a physical-quantity basis is?
- The Berkel Corporation manufactures Widgets, Gizmos, and Turnbols from a joint process. June production is 10,000 widgets; 13,500 gizmos; and 15,000 turnbols. Respective per unit selling prices at split-off are $95, $60, and $20. Joint costs up to the split-off point are $187,500. What amount of joint costs will be allocated to the Turnbols? (Do not round any intermediary calculations.)Cledus and Bandit, LLC is a small production facility in Foley, Alabama that produces three products in a joint process which costs $25,000. Each product can be sold at split-off or processed further and then sold. 10,000 units of each product are manufactured. The following information is available for the three products: Product Sales Valueat Split-off Separable ProcessingCosts after Split-off Sales Valueat Completion A $12 $9 $21 B 10 4 17 C 15 6 19 If Product A is processed beyond the split-off point, profit will: Group of answer choices remain unchanged increase by $210,000 increase by $ 90,000 increase by $120,000Stahl Inc. produces three separate products from a common process costing $100,800. Each of the products can be sold at the split-off point or can be processed further and then sold for a higher price. Shown below are cost and selling price data for a recent period. Sales Valueat Split-OffPoint Cost toProcessFurther Sales Valueafter FurtherProcessing Product 10 $60,400 $100,600 $190,000 Product 12 15,600 30,100 35,400 Product 14 55,500 150,800 214,500 Determine total net income if all products are sold at the split-off point. Net income $ eTextbook and Media Determine total net income if all products are sold after further processing. Net income $ eTextbook and Media Calculate incremental profit/(loss) and determine which products should be…
