ESBA Company produced two joint products A and E. and by-productsand D from the same raw materials with Jointcosts P200.000. The ertityuses net realizabe value in allocatingjoirt costs to joint products. Otherinformaticin are as foilows: Units produced (20.000: 30.000: 5.000 and5.000) Unit soid (18.000. 25.000: 5.000 and 5.000): Final unit sellingprices (P25.00: P20.00. P200 and P1.50): Further processing costs(PI50.000; P210.0oC: P5.000 and P4.000); Selling and Administrativeexpenses (P15.000: P21.000: PS00 and P400): Desred profiton Cand D(P2.000 and P1500). irthenetproceeds of sale of by-products areprasented as reduetion from cost of goods sold of the main products,what is the amount of operating proft from joint products orly?P438.589PABR300P432836F430,989

Joint Product Joint Product which is described as the production process of the two or more models…

BSBA Company produced two joint producte A and E. and by-producte and D from the sameraw materials with joint costs P200.000. The erth uses net realizabie value in alocatingjoirt costs to joint products. Othe information are as folowa: Units produced (20.000. 30.000: 5.000 and 5.000) Unit soid (18.000. 25.000: 5.000 and5.000): Final unit selling prices (P25.00. P20.00. P200 ard P1.50): Further processing costs (PIS0,000; P210.0oC: P5.000 and P4.000), Seling ard Administrative expenses (P15.00O: P21.000: P500 and P400): Desired profiton Cand (P2000 and PL500). ir the net proceeds of sale of by-products are presented as reduction from cost of goods sold of the main producte, what is the amount of cperating profit from joint products orly? O Pa30519 O PABR300 PA32836

BSBA Company produced two joint producte A and E. and by-producte and D from the sameraw materials with joint costs P200.000. The erth uses net realizabie value in alocatingjoirt costs to joint products. Othe information are as folowa: Units produced (20.000. 30.000: 5.000 and 5.000) Unit soid (18.000. 25.000: 5.000 and5.000): Final unit selling prices (P25.00. P20.00. P200 ard P1.50): Further processing costs (PIS0,000; P210.0oC: P5.000 and P4.000), Seling ard Administrative expenses (P15.00O: P21.000: P500 and P400): Desired profiton Cand (P2000 and PL500). ir the net proceeds of sale of by-products are presented as reduction from cost of goods sold of the main producte, what is the amount of cperating profit from joint products orly? O Pa30519 O PABR300 PA32836

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ilang Ilang Company manufactures Product A and B from a joint process which yield a by-product. Ilang Ilang accounts for the revenue from its by-product sales as deduction from the cost of goods sold of its main products. Additional information follows: A B C Total Unit produced 15000 9000 6000 30000 Joint Costs 264000 Sales Value at Split off 290000 150000 10000 450000 Joint products are allocated using the relative sales value at split off approach What was the joint cost allocated to Product B?
BSBA 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…
Vicerelandu, Inc. manufactures X, Y, and Z from a joint process. Joint product costs were P60,000. Additional information are as follows:(see pic) 1. Assuming that joint costs are allocated using the physical measures (units produced) approach, what were the total costs allocated to product X ________________________ Y ______________________ Z ______________________2. Assuming that joint product costs are allocated using the relative sales value at split-off approach, what were the total costs allocated to product X_________________________ y ______________________ Z ______________________
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 27,300 ? DF2 18,300 ? $ 563,250 $ 187,750 Joint Cost BP 15,300 ? $ 102,300 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. 60,900 $ 560,300 $ 853,300
BSBA Company produced joint products M, Nand O from same raw materials with total joint costs P35,.000. Other data are as follows: Quantity Produced in units (1.500: 2,500: 1,000); Unit Market value at split-off (Pó: P10; P8): Final unit selling price (P10, P12, P15): Additional costs after split off (P3.000; P2.000; P5.000): Quantity Sold (1.200: 2.000: 800). Using the physical output method, what is the unit cost of Product N?* P7.80 P 7.80 P7.00 O P9.00 O P12.00
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…
2. ABC Company uses a joint process to produce products A, B, and C. The joint production costs for 201Awere 500,000 and were allocated using relative sales value at the split-off point method.Each product may be sold at its split-off point or processed further. Additional processing costs are entirelyvariable.ProductsSales Value atSplit-offAdditionalProcessingCostsFinal SalesValueA P300,000 P130,000 420,000B 120,000 100,000 230,000C 250,000 140,000 400,000P670,000 P370,000 P1,050,000 a. To maximize profit, which product/s should be sold at split-off point and be processed further,respectively?b. If the alternative were to sell at split-off point or to process further all products, which alternativewould be recommended?
MIX Inc. is conducting a joint process which results to three products. The following production data were provided by MIX Inc. for the current period:Product Name Units Produced Selling price per unit at split off pointAce 10,000 P40Bat 15,000 P20Can 25,000 P12Additional data for the period were provided:All the ace items were sold for a gross profit of P100,000.The joint costs were allocated using physical method.Requirement:1. What is the gross profit/(loss) if all the Bat items are sold in current year?2. Assuming the joint costs are fixed, what is the joint cost allocated to can items using the relative sales value method?
BSBA Company produced joint products M, Nand O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1.500: 2,500; 1,000); Unit Market value at split-off (P6: P10: P8): Final unit selling price (P10, P12. P15): Additional costs after split off (P3,000: P2.000: P5.000): Ouantity Sold (1.200: 2.000: 800). Using the average unit cost method, what is the unit cost of Product M? O P9.00 P12.00 P7.80 O P7.00 ESBA Company produced joint products M, Nand O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1.500: 2,500: 1.000); Unit Market value at split-off (P6; P10; P8); Final unit selling price (P10, P12, P15): Additional costs after split off (P3.000; P2.000: P5.000): Quantity Sold (1.200: 2.000: 800). Using the physical output method, what is the unit cost of Product N?* O P7.80 P7.00 P 9.00 P12.00
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…
Buttertly 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 M2 B1 Units produced Allocated joint costs Sales value at split-off $414, 000 $276, 00 s98, 000 Total 49, 700 $388, 000 $788, 000 26, 800 13, 800 9, 100 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.) Jont cont of product M1
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. 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 C and D (P2.000 and P1.500). If the entity uses average unit costs method in joint products, the reversal costs method in by products and there are no inventory on hand, what is the total net profit? P432,836 O P438,300 P438,589 P439,026