A-One Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A-One Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2020 follows (Click the icon to view the information) Joint cost of production in July 2020 was $100. Data table Parts Breasts Wings Thighs Bones Feathers Pounds of Product 200 $ 40 80 160 20 Wholesale Selling Price per Pound When Production is Complete 0.40 0.20 0.35 0.05 0.05 I A special shipment of 70 pounds of breasts and 15 pounds of wings has been destroyed in a fire. A-One Chicken's insurance policy provides reimbursement for the cost of the items destroyed. The insurance company permits A-One Chicken to use a joint-cost-allocation method. The splitoff point is assumed to be at the end of the production process. Read the requirements Requirements 1. Compute the cost of the special shipment destroyed using the following: a. Sales value at splitoff method b. Physical-measure method (pounds of finished product) 2. What joint-cost-allocation method would you recommend A- One Chicken use? Explain. A-One Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2020 follows (Click the icon to view the information) Joint cost of production in July 2020 was $100. Data table Parts Breasts Wings Thighs Bones Feathers Pounds of Product 200 $ 40 80 160 20 Wholesale Selling Price per Pound When Production is Complete 0.40 0.20 0.35 0.05 0.05 I A special shipment of 70 pounds of breasts and 15 pounds of wings has been destroyed in a fire. A-One Chicken's insurance policy provides reimbursement for the cost of the items destroyed. The insurance company permits A-One Chicken to use a joint-cost-allocation method. The splitoff point is assumed to be at the end of the production process. Read the requirements Requirements 1. Compute the cost of the special shipment destroyed using the following: a. Sales value at splitoff method b. Physical-measure method (pounds of finished product) 2. What joint-cost-allocation method would you recommend A- One Chicken use? Explain.
Expert Answer:
Answer rating: 100% (QA)
1 aSales Value at split off Sales value at split off method Pounds of product Wholesale SP per pound ... View the full answer
Related Book For
Horngrens Cost Accounting A Managerial Emphasis
ISBN: 9780135628478
17th Edition
Authors: Srikant M. Datar, Madhav V. Rajan
Posted Date:
Students also viewed these accounting questions
-
Quality Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2012 is: Joint cost of production in July 2012 was $50. A...
-
Quality Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2020 follows: Joint cost of production in July 2020 was...
-
Quality Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2015 is: Kilograms ofWholesale Selling Price per Kilogram...
-
Suppose that in a particular area the consumption of water varies tremendously throughout the year, with average household summer use exceeding winter use by a great deal. What effect would this have...
-
A small stationary surface of area A 1 = 10 ?4 m 2 emits diffusely with a total intensity of I c = 100 W/m 2 ? sr. A second surface of equivalent area A 2 = 10 ?4 m 2 is located at a fixed distance...
-
Particle A has a mass of 5.0 g and particle B has a mass of 1.0 g. Particle A is located at the origin and particle B is at the point (x, y) = (25 cm, 0). What is the location of the cm?
-
Trade secret theft can cause significant harm to a business. At the same time, businesses sometimes intentionally suppress information that might harm sales if publicly known. Suppose an employee of...
-
Your company plans to borrow $13 million for 12 months, and your banker gives you a stated rate of 24 percent interest. You would like to know the effective rate of interest for the following types...
-
Duncan's Diamond Bit Drilling Corporation (Duncan) purchased the following assets in 2023. Assume its taxable income was $60,000 for purposes of computing the 179 expense deduction. Asset Purchase...
-
Fill in the missing amounts from the following T accounts. Accounts Receivable Accounts Payable Sales Aug. 10 17,500 15 6,500 Aug. 5 (c) Aug. 10 50,000 18 3,400 Aug. 12 500 Aug. 23 (a) Aug. 29 5,800...
-
A check was received for $1,090.00 from the Sierra Jet Set for storage fees on personal watercraft and equipment. This check prepays their storage fees for June, July, and August. How do I journalize...
-
Calculate the optimal markup on cost for each service, based on the following estimates of point price elasticity of demand: Passenger Type First Class Cost Elasticity $400 -1.25 -1.1 -3.5 -2.5...
-
What is the difference between the T-statistic and the F-statistic?
-
Focus on the airline industry: why is the upper portion of the kinked demand curve elastic and the lower portion inelastic?
-
What are the merits of using peak-load pricing at commercial airports?
-
Explain how the Expected Marginal Seat Revenue model is constructed and what assumptions are used to build the model.
-
(a) In a sample of clay soil, the void ratio (e) is 0.73, solids specific gravity (G) 2.71 and degree of saturation (S) 92%. Calculate (i) the water content, and bulk and dry densities, and (ii) the...
-
DEPARTMENT DATA EMPLOYEE DATA EmployeeNumber FirstName Mary Rosalie Richard George Alan 3 4 5 7 8 9 855555ES 12 13 14 15 16 17 Create the database tables in SQL or ACCESS: 18 19 20 PROJECT DATA Ken...
-
What is a partial-productivity measure?
-
To be sure that you understand how to use the tables in Appendix A at the end of this text, solve the following exercises. Ignore income tax considerations. The correct answers, rounded to the...
-
The Unique Toys Company manufactures and sells toys. Currently, 300,000 units are sold per year at $12.50 per unit. Fixed costs are $880,000 per year. Variable costs are $7.00 per unit. (Consider...
-
Here we have yet another pharmaceutical insider trading case. Elan Corporation and Wyeth were jointly developing an Alzheimers drug. Steven Martoma, a portfolio manager at a hedge fund, began...
-
For the last five years, Madison has worked 20 hours per week at Save Right Pharmacy. She has always been a reliable and efficient employee. When her mother became seriously ill, Madison notified...
-
The Brian B. Sand & Zachary B. Sand Joint Trust (the Trust) sued the Biotechnology Value Fund (BVF) under Section 16(b) of the Securities Exchange Act of 1934. Mark Lampert controlled BVF as well as...
Study smarter with the SolutionInn App