A company processes a patented chemical, D-12, and produces two outputs, C-30 and C-40. In March, the
Question:
A company processes a patented chemical, D-12, and produces two outputs, C-30 and C-40. In March, the costs to process D-12 are $450,000 for materials and $900,000 for conversion costs. C-30 has a sales value of $2,000,000 and C-40 has a sales value of $500,000.
Required
Using the net realizable value method, assign costs to C-30 and C-40 for March.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (6 reviews)
Total joint costs are 1350000 based on the 450...View the full answer
Answered By
John Kimutai
I seek to use my competencies gained through on the job experience and skills learned in training to carry out tasks to the satisfaction of users. I have a keen interest in always delivering excellent work
4.70+
11+ Reviews
24+ Question Solved
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Question Posted:
Students also viewed these Cost Accounting questions
-
A chemical company produces amongst its product range two industrial cleaning fluids, A and B. These products are manufactured jointly. Total sales are expected to be restricted because home trade...
-
Which of the following best represents an accounting profit? revenue - implicit costs revenue - explicit costs implicit - explicit costs revenue - normal profits normal profits - (explicit costs -...
-
The Kohler Chemical Manufacturing Company produces two primary chemical products to be used as base ingredients for a variety of products. The 2012 budget for the two products (in thousands) was as...
-
What other advice can you offer owners of seasonal businesses about coping with the effects of their companies highly irregular sales patterns? About managing cash flow in general?
-
Refer to Practice 20-2. Assume that before 2013 the company used straight-line depreciation for tax purposes while using double-declining-balance depreciation for book purposes. The change to...
-
Kalamazoo College requires that all computers connected to the campus network be running up-to-date antivirus software. When a students computer is discovered to have a virus, its network connection...
-
(a) A rectangular loop of wire is \(\ell=800 \mathrm{~mm}\) long and \(w=500 \mathrm{~mm}\) wide. You bend the \(\ell\) sides into a semicircle while keeping the \(w\) sides straight, as shown in...
-
Consider an audit client that manufactures fishing boats and sells them all over the country. Boats are sold to dealers who finance their purchases with their banks. The banks usually pay your client...
-
1. 20 The full symbols of atoms of elements R, T, X, Y and Z are 2R, 31, 30, 34X, and 5Z respectively 15 15 164, Which one of the following is an isotope of Y A. R B. T C. X D. Z 2. The electronic...
-
An investment bank has the following customers. Investor A Long forward contract to buy 1000 ounces of gold at HK$10000 per ounce in 3 months Investor B Short European put options to sell 500 ounces...
-
Refer to the facts in Exercise 11-24. University Printers estimates that the variable costs in the Personnel Department total $20,000 and in the Maintenance Department variable costs total $8,750....
-
Blasto, Inc., operates several mines. At one, a typical batch of ore run through the plant yields three products: lead, copper, and manganese. At the split-off point, the intermediate products cannot...
-
Lola, age 67, began receiving a $1,000 monthly annuity in the current year upon the death of her husband. She received seven payments in the current year. Her husband contributed $48,300 to the...
-
G. Consider the linear program min y + 2 + 3ys s.t. 21 2 1 (4) 32 + 3y 23 -2-1 Dr. S. 20 (a) Write down a linear program (P) the dual of which is the above linear program (4). (b) Show that the...
-
What are all the real and complex roots of the polynomial 2x^(3)-14x^(2)+24x+40, given that one root is x=-1 ?
-
A vertical cable 3m long has a cross-sectional area of 4 sq. cm. supports a weight of 50 kN. What will be the natural period and natural frequency of the system? E = 2.1 x 106 kg/cm
-
Make a BadFileException , an unchecked exception, and InvalidNameFormatException and InvalidAttendanceInformationException , two checked exceptions, each in their respective file. All of these are...
-
John earns $65000/yr, he pays 10% income tax for under $30000 and 14% between $30000 to $50000 and 19% above $50000. what is his effective income tax?
-
What is a deprecated method?
-
Periwinkle Company is a multinational organization. Its Parts Division is located in Lavender Land, while its Assembly Division is located in North Orchid. During the current year Periwinkle Companys...
-
An airline knows that in the long run only 90% of passengers who book a seat show up for their flight. On a particular flight with 300 seats there are 324 reservations. Assuming passengers make...
-
Brighton, Inc., manufactures kitchen tiles. The company recently expanded, and the controller believes that it will need to borrow cash to continue operations. It began negotiating for a one-month...
-
Panther Corporation appeared to be experiencing a good year. Sales in the first quarter were one-third ahead of last year, and the sales department predicted that this rate would continue throughout...
-
The board of directors of the Cortez Beach Yacht Club (CBYC) is developing plans to acquire more equipment for lessons and rentals and to expand club facilities. The board plans to purchase about...
-
You are a supervisor at your company. You've overheard Employee A making offensive comments to other employees, and Employee B has complained about these comments. You've given Employee A a verbal...
-
What is the probability of developing and dying from cancer today?
-
On January 1, 2024, Majestic Mantles leased a lathe from Equipment Leasing under a finance lease. Lease payments are made annually. Title does not transfer to the lessee and there is no purchase...
Study smarter with the SolutionInn App