Ester Limited produces two products X and Y by producing a common raw material in a...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ester Limited produces two products X and Y by producing a common raw material in a common production process. The production for the month of April was 8000 units of X and 6000 units of Y. Whereas sales were 7000 units and 4000 units of X and Y respectively. Following are the other details. Selling price per unit at split off point is $25 and $20 of X and Y respectively Selling price per unit after further processing is $60 for X and $80 for Y Other expenses are as follows: Further processing expense of X and Y is $29 and $38 respectively Total Joint cost for the month is $80,000 Allocate Joint cost on the basis of: (a) Market Value Split off method (b) Net realizable value method Ester Limited produces two products X and Y by producing a common raw material in a common production process. The production for the month of April was 8000 units of X and 6000 units of Y. Whereas sales were 7000 units and 4000 units of X and Y respectively. Following are the other details. Selling price per unit at split off point is $25 and $20 of X and Y respectively Selling price per unit after further processing is $60 for X and $80 for Y Other expenses are as follows: Further processing expense of X and Y is $29 and $38 respectively Total Joint cost for the month is $80,000 Allocate Joint cost on the basis of: (a) Market Value Split off method (b) Net realizable value method
Expert Answer:
Answer rating: 100% (QA)
Market Value at Split off Method Particulars X Y Sale Value slit of... View the full answer
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
Posted Date:
Students also viewed these accounting questions
-
Two products X and Y are made being using similar equipment and methods. Data for the previous year is as follows: Required Calculate the overhead to be absorbed per unit based on a) Conventional...
-
The following payroll totals for the month of April are from the payroll register of Myth Corporation: salaries, $446,000; federal income taxes withheld, $62,880; Social Security tax withheld,...
-
The following are the transactions for the month of July. Required: Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO,...
-
Infinity & Beyond, Inc. is a producer of high-tech fashion merchandise. The company's marketing department has identified a new product concept through discussions with potential customers conducted...
-
Frank J. Wilson is considered to be the first forensic accountant in the United States. What method did he use to determine Al Capones unreported taxable income? Explain how this method works.
-
The partnership of Guerin, Moradi, and Veloso has the following account balances: This partnership is being liquidated. Guerin and Moradi are each entitled to 40 percent of all profits and losses...
-
The centrifugal pump shown in Fig. P12.18 is not selfpriming. That is, if the water is drained from the pump and pipe as shown in Fig. P12.18(a), the pump will not draw the water into the pump and...
-
Kathleen and Mary (KM) operate a small coffee shop. They produce regular coffee available from many other similar businesses and also produce gourmet coffee for special orders. Their accountant...
-
Helix Corporation uses the weighted-average method of process costing. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material used in the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
It is desired to increase the density of a Class H cement to 17.5 lbm/gal using barite. Compute the weight of barite that should be blended with each sack of cement. Use the water requirements for...
-
What services might a salesperson consider providing in an effort to strengthen their existing partnership with customers?
-
A large industrialized country has recently devalued its currency in an attempt to correct a persistent trade deficit. Which of the following domestic industries is most likely to benefit from the...
-
When dealing with a loyalty issue, it is usually better to avoid direct criticism of the competing firm. Outline four positive ways to overcome loyalty issues with prospects.
-
What is the total profit margin, and what does it measure?
-
Explain why it pays to develop a good relationship with your companys employees as well as your prospects employees, both of whom can influence initial and repeat sales.
-
We currently have 3 'custom build' contracts in progress at the year end. We have recorded the total costs incurred in the build of all three bespoke bikes have recorded in the 'Contract Account'. A...
-
What are the typical record-at-a-time operations for accessing a file? Which of these depend on the current file record?
-
Hawk Manufacturing supplies engine parts to Cherokee Cycle Company, a major U.S. manufacturer of motorcycles. Like all of Cherokees suppliers, Hawk has always added a healthy profit margin to its...
-
Fraser Products, Inc., which produces copy machines, has just completed packaging an order from Kent Company for 150 machines. Direct materials, purchased parts, and direct labor costs for the Kent...
-
Carlson Construction Company builds foundations for buildings and parking lots. The following alphabetical list shows Carlsons account balances as of April 30, 2014: Required Insert the account at...
-
Determine the static deflections in each of the springs in the system of Figure P2.22. 40 cm 20 cm 1 x 105 N/m 2 x 105 N/m FIGURE P 2.22 4 kg
-
A \(30 \mathrm{~kg}\) compressor sits on four springs, each of stiffness \(1 \times 10^{4} \mathrm{~N} / \mathrm{m}\). What is the static deflection of each spring.
-
The propeller of a ship is a tapered circular cylinder, as shown in Figure P2.24. When installed in the ship, one end of the propeller is constrained from longitudinal motion relative to the ship...
Study smarter with the SolutionInn App