Company manufactures three products - A, B, and as a result of a joint process.
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- HASF Corporation manufactures products A, B, and C from a joint process. Joint costs are allocated on the basis of relative sales value at the end of the joint process. Additional information for HASF are as follows: Units produced Joint costs 12,000 144,000 в 8,000 60,000 с 4,000 36,000 Total 24,000 240,000 Sales value before additional processing 240,000 100,000 60,000 400,000 Additional costs for further processing Sales value if processed further 28,000 280,000 20,000 120,000 12,000 70,000 60,000 470,000 Required: a. Which, if any, of products A, B, and C should be processed further and then sold? b. Keeping in view the answer of "part a", write down your critical feedback to support your answer (Word limit Max 200)Questions 3 and 4 are based on the following information: Reeland Inc. which manufactures products X, Y and Z from a joint process. Joint product costs were P60,000. Additional information is provided below: Product X Y Z Units Produced 6,000 4,000 2,000 Sales Value at Split - Off P 40,000 35,000 25,000 If Processed Further Sales Value P 55,000 45,000 30,000 Additional Costs P 9,000 7,000 5,000 3. Assuming that joint product costs are allocated using physical measures (units produced) approach, what were the total costs allocated to product X? 4. Assuming the joint product costs are allocated using the relative sales value at split-off approach, what were the total costs allocated to product Y?Agao Chemical Company manufactures three chemicals (NY29, TX38, and CA55) from a joint process. The three chemicals are in industrial grade form at the split-off point. They can either be sold at that point or processed further into premium grade. Costs related to each batch of this chemical process is as follows: NY29 TX38 CA55 Sales value at split-off point P5,000 P16,000 P12,000 Allocated joint costs P6,000 P6,000 P6,000 Sales value after further processing P9,000 P20,000 P18,000 Cost of further processing P2,000 P5,000 P3,000 For which product(s) above would it be more profitable for Agao to sell at the split-off point rather than process further?
- The G-Lab Company produced three joint products at a joint cost of $170,000. Two of these products were processed further. Production and sales were: Additional Processing Costs 200,000 0 100,000 Product A B C Weight 500,000 lbs. 600,000 lbs. 700,000 lbs. Sales OA. $113,333.33 B. $92,555.56 C. $66,111.11 D. $47,222.22 245,000 30,000 175,000 If joint costs are allocated based on relative weight of the outputs and all products are main products, how much of the joint costs would be allocated to product A? (Do not round intermediary calculations. Round final answer to the nearest cent.)Benjamin Signal Company produces products R, J, C from a joint process. Each product may be sold at the split off point or be processed further. Joint production costs of $92,000 are allocated to the products based on the relative number of units produced. Data for the current year operations follow: Product Units Allocated Joint Sales Value at Produced Production Spit off Cost $ 32,000 $ 40,000 $ 20,000 $ 76,000 $ 71,000 $ 48,000 R 8,000 10,000 5,000 Product R can be processed beyond the split off point for an additional cost of $26,000 and can then be sold for $105,000. Product J can be processed beyond the split off point for an additional $38,000 and then sold for $117,000. Product C can be processed beyond the split off point for an additional $12,000 and then sold for $57,000. Required: Which products should be processed beyond the split off point? Show your calculations.The Mallak Company produced three joint products at a joint cost of $100,000. Two of these products were processed further. Production and sales were: Product Weight Sales Additional Processing Costs P 300,000 lbs. $ 245,000 $ 200,000 Q 100,000 lbs. 30,000 -0- R 100,000 lbs. 175,000 100,000 What is the net income of Mallak Company if the estimated net realizable value method of joint cost allocation is used? Multiple Choice $150,000. $20,000. $50,000. $350,000.
- 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?The Moody Company produced three joint products at a joint cost of $117,000. Two of these products were processed further. Production and sales were: P Weight 317,000 lbs. $ 262,000 34,250 108,500 lbs. 200,500 Sales Addt'l. Processing Costs $ 217,000 Q 108,500 lbs. R 0 117,000 Assume Q is a by-product and Moody uses the cost reduction method of accounting for by-product cost. If estimated net realizable value is used, how much of the joint costs would be allocated to product R? (Round your final answer to the nearest whole dollar.)Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows. Product Units Produced Sales value at split-off Additional Cost sales value W-10 $ 56,000.00 $ 336,000.00 $ 36,000.00 $ 366,000.00 w-20 $ 40,000.00 $ 288,000.00 $ 28,800.00 $ 336,000.00 w-30 $ 32,000.00 $ 192,000.00 $ 19,200.00 $ 240,000.00 w-40 $ 32,000.00 $ 144,000.00 $ 12,000.00 $ 160,000.00 $ 160,000.00 $ 960,000.00 $ 96,000.00 $ 1,102,000.00 Required:-Assuming that total joint costs of $384,000 were allocated using the physical quantities method, what joint costs were allocated to each product?
- Deming & Sons manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows. Product Units Produced Sales value at split-off Additional Cost sales value W-10 $ 56,000.00 $ 336,000.00 $ 36,000.00 $ 366,000.00 w-20 $ 40,000.00 $ 288,000.00 $ 28,800.00 $ 336,000.00 w-30 $ 32,000.00 $ 192,000.00 $ 19,200.00 $ 240,000.00 w-40 $ 32,000.00 $ 144,000.00 $ 12,000.00 $ 160,000.00 $ 160,000.00 $ 960,000.00 $ 96,000.00 $ 1,102,000.00 Required :-Assuming that total joint costs of $384,000 were allocated using the sales value at split-off (net realizable value method), what joint costs were allocated to each product?Corporation manufactures three products from a joint process. The three products are in industrial grade form at the split- off point. They can either be sold at that point or processed further into premium grade. Costs related to each batch of this process is as follows: Sales Price at split-off point Allocated joint costs Sales Price after further processing Cost of further processing Product Quantity Product 1 $16 $6,000 $20 $5,330 1,000 lb. Product 2 $12 $6,000 $18 $2,050 1,000 lb. Product 3 $5 $6,000 $14 $2,530 1,000 lb. Q: What would be the additional amount of profit that more profitable to process further rather than be sold at the split-off point? A: $ Corp, would gain from further processing the product(s) that is/areCorporation manufactures three products from a joint process. The three products are in industrial grade form at the split off point. They can either be sold at that point or processed further into premium grade. Costs related to each batch of this process is as follows: Product 1 Product 2 Product 3 Sales Price at split-off point $16 $12 $5 Allocated joint costs $6,000 $6,000 $6,000 Sales Price after further processing $20 $18 $14 Cost of further processing $6,360 $1,420 $2,650 Product Quantity 1,000 lb. 1,000 lb. 1,000 Ib. Q. What would be the additional amount of profit that Corp. would gain from further processing the product(s) that is/are more profitable to process further rather than be sold at the split-off point?