Ethel Company buys Article G for P0.80 per unit. At the end of processing in Department...

 

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Ethel Company buys Article G for P0.80 per unit. At the end of processing in Department 1, Article G split into producing D, E and F. Product D is sold at split-off with no further processing. E and F require further processing before they can be sold. E is processed in department 2; and F is processed in Department 3. The following is a summary of costs and other related data for the year ended July 31, 2021. Cost of Article G Department 3 Department 1 Department 2 Direct Materials Direct Labor P1,440,000 210,000 P675,000 P975,000 Factory Overhead 150,000 315,000 735,000 Product D Product E Product F Unit sold 300,000 450,000 675,000 Units on hand-7/30 150,000 225,000 Sales P450,000 P1,440,000 P2,126,250 ps:/euphinstructure.com/courses/404/quizzes/26124/take 2/14/21, 3:22 PM Quiz: Final Quiz 4 Ethel uses the estimated net realizable value method to allocate the joint cost. 12/22 Ethel uses the estimated net realizable value method to allocate the joint cost. The cost of Product E sold for the year ended July 31,2021 is: Ethel Company buys Article G for P0.80 per unit. At the end of processing in Department 1, Article G split into producing D, E and F. Product D is sold at split-off with no further processing. E and F require further processing before they can be sold. E is processed in department 2; and F is processed in Department 3. The following is a summary of costs and other related data for the year ended July 31, 2021. Cost of Article G Department 3 Department 1 Department 2 Direct Materials Direct Labor P1,440,000 210,000 P675,000 P975,000 Factory Overhead 150,000 315,000 735,000 Product D Product E Product F Unit sold 300,000 450,000 675,000 Units on hand-7/30 150,000 225,000 Sales P450,000 P1,440,000 P2,126,250 ps:/euphinstructure.com/courses/404/quizzes/26124/take 2/14/21, 3:22 PM Quiz: Final Quiz 4 Ethel uses the estimated net realizable value method to allocate the joint cost. 12/22 Ethel uses the estimated net realizable value method to allocate the joint cost. The cost of Product E sold for the year ended July 31,2021 is:

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To solve this problem we need to follow these steps 1 Calculate the joint cost allocation to the spl... View the full answer