Please provide answer in text (Without image) The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Yingand Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two jointproducts are processed beyond the split-off point, incurring separable processing costs. There is a $700 disposal cost for the by-product. A summary of a recent month's activity at Marshall is shown below:Units soldUnits producedSeparable processing costs-variableSeparable processing costs-fixedSales priceYing35,00035,000$ 98,000$ 7,000$ 5,000S-$6.00$ 12.50$ 1.50Total joint costs for Marshall in the recent month are $129,800, of which $55,814 is a variable cost.Manufacturing cost per unitTotal gross marginYang28,00028,000$ 30,000Required:1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimalplaces.)2. Calculate the total gross margin for each product.YingYangBit7,0007,000S-Bit

Manufacturing expenses are made up of various elements. The price of direct labor, the price of…

The Marshall Company has a joint production process that produces two joint products and a by-product. The joint p and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value met products are processed beyond the split-off point, incurring separable processing costs. There is a $700 disposal co product. A summary of a recent month's activity at Marshall is shown below:

The Marshall Company has a joint production process that produces two joint products and a by-product. The joint p and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value met products are processed beyond the split-off point, incurring separable processing costs. There is a $700 disposal co product. A summary of a recent month's activity at Marshall is shown below:

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter25: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 4CMA: Oakes Inc. manufactured 40,000 gallons of Mononate and 60,000 gallons of Beracyl in a joint...

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The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint products are processed beyond the split-off point, incurring separable processing costs. There is a $2,000 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Yang 80,000 80,000 Separable processing costs-variable $ 86,000 Separable processing costs-fixed Sales price $ 14,000 $ 20,000 $6.00 $ 12.50 $ 1.50 Total joint costs for Marshall in the recent month are $268,000, of which $115.240 is a variable cost Units sold Units produced Manufacturing cost per unit t Total gross margin Required: 1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimal places.) 2. Calculate the total gross margin for each…
The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint products are processed beyond the split-off point, incurring separable processing costs. There is a $1,500 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Ying 75,000 75,000 $ 210,000 $ 15,000 $ 6.00 Total joint costs for Marshall in the recent month are $211,000, of which $90,730 is a variable cost. Units sold Units produced Separable processing costs-variable Separable processing costs-fixed Sales price Manufacturing cost per unit Total gross margin Yang 60,000 60,000 $ 65,000 $ 10,000 $ 12.50 Required: 1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimal places.) 2. Calculate the total…
The Marshall Company has a joint production process that produces two joint products and a by-product. The joint products are Ying and Yang, and the by-product is Bit. Marshall accounts for the costs of its products using the net realizable value method. The two joint products are processed beyond the split-off point, incurring separable processing costs. There is a $1,200 disposal cost for the by- product. A summary of a recent month's activity at Marshall is shown below: Ying 60,000 60,000 $ 168,000 $ 12,000 $ 6.00 Bit Yang 48,000 48,000 $ 50,000 $ 10,000 $ 12.50 Units sold 12,000 12,000 $ Units produced Separable processing costs-variable Separable processing costs-fixed Sales price $ 1.50 Total joint costs for Marshall in the recent month are $176,800, of which $76,024 is a variable cost. Required: 1. Calculate the manufacturing cost per unit for each of the three products. (Round manufacturing cost per unit answers to 2 decimal places.) 2. Calculate the total gross margin for each…
Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $178,600 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Sales Value atSplit-Off Point AllocatedJoint Costs Cost to ProcessFurther Sales Value ofProcessed Product Spock $209,500 $39,200 $110,100 $300,900 Uhura 299,900 59,100 85,100 400,900 Sulu 454,000 80,300 249,500 800,700 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Spock Uhura Sulu…
Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $179,400 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Sales Value atSplit-Off Point AllocatedJoint Costs Cost to ProcessFurther Sales Value ofProcessed Product Spock $209,700 $40,000 $109,600 $300,900 Uhura 300,000 60,200 84,900 399,900 Sulu 455,500 79,200 249,500 800,500 Determine the incremental profit or loss that each of the three joint products. Spock Uhura Sulu Incremental profit (loss) $ $ $ Indicate whether each of the three joint products should be sold as…
Crane Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $179,800 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Incremental profit (loss) Sales Value at Split-Off Point Spock Uhura $209,700 Sulu 300,900 454,100 Save for Later $ Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).) sold as is Allocated Joint Costs $39.700 60,700 79,400 Spock process further Cost to Process Further $110,400 process further 85,100 249,700 $ Sales Value of Processed Product Indicate whether each of the…
Kirk Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $178,800 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $211,000 299,200 455,600 Allocated Joint Costs Incremental profit (loss) $ $39,700 59,800 79,300 Cost to Process Further $110,800 Spock 85,200 250,000 Sales Value of Processed Product $300,100 400,200 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 800,800 Uhura Sulu
Troester Manufacturing produces products X, Y, and Z from a joint process. Each product can be processed further and sold as X- Prime, Y-Prime, and Z-Prime. Information on the operations for the most recent period follows. Required: Determine the value of each missing item. The joint costs of $144,000 for X is the portion of the total joint cost of $288,000 that had been allocated to X. Note: Do not round intermediate calculations. Product Units produced Joint costs Sales value at split-off Additional costs to convert to Prime Sales value as Prime $ X 76,800 144,000 Y 38,400 33,600 $ 24,000 336,000 184,000 $ Z 19,200 72,000 14,400 96,000 Total 134,400 288,000 480,000 72,000 $ 616,000 $
Arkansas Corporation manufactures liquid chemicals A and B from a joint process. It allocates joint costs on the basis of sales value at split-off. Processing 4,300 gallons of product A and 1,400 gallons of product B to the split-off point costs $5,200. The sales value at split-off is $3.00 per gallon for product A and $21.50 per gallon for product B. Product B requires additional separable processing beyond the split-off point at a cost of $2.80 per gallon before it can be sold at a price of $34 per gallon. Required: What is the company’s cost to produce 1,400 gallons of product B? Question 2. Webster Company produces 30,000 units of product A, 25,000 units of product B, and 16,500 units of product C from the same manufacturing process at a cost of $405,000. A and B are joint products, and C is regarded as a by-product. The unit selling prices of the products are $25 for A, $10 for B, and $2 for C. None of the products requires separable processing. Of the units produced, Webster…
Pharoah Minerals processes materials extracted from mines. The most common raw material that it processes results in three joint products: Spock, Uhura, and Sulu. Each of these products can be sold as is, or each can be processed further and sold for a higher price. The company incurs joint costs of $182,100 to process one batch of the raw material that produces the three joint products. The following cost and sales information is available for one batch of each product. Spock Uhura Sulu Sales Value at Split-Off Point $209,600 299,800 455,800 Allocated Joint Costs $40,200 60,900 81,000 Cost to Process Further $109,700 84,700 250,200 Sales Value of Processed Product $300,900 400,600 799,600 Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45))
Lawn Products produces two products (X and Y) and a by-product (Z) from a joint process using a raw material (Alpha). The company chooses to allocate the costs on the basis of the physical quantities method. Last month, it processed 23,000 pounds of Alpha at a total cost of $99,000. The output of the process consisted of 28,800 units of product X, 35,200 units of product Y, and 7,100 units of by-product Z. By-product Z can be sold for $12,000. This is considered to be its net realizable value, which is deducted from the processing costs of the main products. Required: What amount of joint costs should be assigned to each of product X and product Y? Product X Product Y Joint Costs
Crane's woodworking business produces two products from its joint process: one main product (sanded and finished trim pieces) and one by-product (sawdust/shavings). The joint process has a cost of $31,000, which results in trim pieces worth $47,000 and sawdust/shavings that can be sold for $2,800. If Crane uses the production method to account for by-products, determine how much of the joint process cost will be allocated to each product. In other words, how much inventory cost will be recorded for each product? Main product By-product Allocated joint costs $