Flora Perfume Company manufactures two perfume products in a joint process. In July, raw materials costing...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Flora Perfume Company manufactures two perfume products in a joint process. In July, raw materials costing $50,000 were processed at a conversion cost of $80,000. The joint process resulted in 10 litres of product A and 15 litres of product B. Product A can be sold for $2 per millilitres, and product B can be sold for $1.5 per millilitres. Management generally processes each of these chemicals further in separable processes to produce more refined perfume products. Product A is processed separately at a cost of $0.5 per millilitres. The resulting product, product X sells for $5 per millilitres. Product B is processed separately at a cost of $0.75 per millilitres. The resulting product, product Y, sells for $3 per millilitres. Required: Allocate the company's joint production costs for July using: a. The physical unit method b. The relative-sales-value method. c. The net-realizable-value method Flora Perfume Company manufactures two perfume products in a joint process. In July, raw materials costing $50,000 were processed at a conversion cost of $80,000. The joint process resulted in 10 litres of product A and 15 litres of product B. Product A can be sold for $2 per millilitres, and product B can be sold for $1.5 per millilitres. Management generally processes each of these chemicals further in separable processes to produce more refined perfume products. Product A is processed separately at a cost of $0.5 per millilitres. The resulting product, product X sells for $5 per millilitres. Product B is processed separately at a cost of $0.75 per millilitres. The resulting product, product Y, sells for $3 per millilitres. Required: Allocate the company's joint production costs for July using: a. The physical unit method b. The relative-sales-value method. c. The net-realizable-value method
Expert Answer:
Answer rating: 100% (QA)
a The Physical Unit Method Under the physical unit method the joint production costs are allocated t... View the full answer
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
Posted Date:
Students also viewed these accounting questions
-
A student followed the procedure in part 1 of this module to determine the madd of unknown acid required to give a 30 ml trituration with .106MNaOH. The student found that 8.67 ml of NaOH solution...
-
A student followed the procedure in part 1 of this module to determine the madd of unknown acid required to give a 30 ml trituration with .106M NaOH. The student found that 8.67 ml of NaOH solution...
-
In part 1 of this lab, we will be investigating the motion of a cart as it slides down an inclined plane. Let D be the distance from the raised end to the ground and h be the vertical distance from...
-
Use the graphs of f and g to solve Exercises 8390. Find (fg)(2). y = g(x) HH y .y = f(x) # X
-
Select For Our Investors near the bottom of the page. Then, select Best Buys most recent annual report in the PDF format. Use the consolidated balance sheets to answer the following questions. At the...
-
A buffer is created by combining 150.0 mL of 0.25 M HCHO 2 with 75.0 mL of 0.20 M NaOH. Determine the pH of the buffer.
-
What are the business benefits of an EA? Explain why it is necessary to ensure that an EA maintains alignment between IT and business strategy?
-
The following transactions were completed by Millenial Toy Co. during 2011: Mar. 1 Purchased real property for $829,700, which included a charge of $29,700 representing property tax for March 1June...
-
Two blocks, joined by a string, have masses of 6.0 and 9.0 kg. They rest on a frictionless horizontal surface. A 2nd string, attached only to the 9-kg block, has horizontal force = 30 N applied to...
-
In this exercise, you will complete the Moonbucks application that you created in Exercise 2 in Chapter 2. a. Use Windows to copy the Moonbucks Solution folder from the VB2017\Chap02 folder to the...
-
A particle is moving along a curve defined by parametric equation x = 2Cos3t, y = 2 Sin3t, z = 4t (i) Find the velocity and acceleration at any given time t. (ii) Find the magnitude of velocity and...
-
Consider two vector spaces V and W and a linear transformation T: VW, where V has a basis and W has a basis X = {x, x, 3} x = {22} 9 What is the size of the matrix for T relative to the bases X and y
-
( v ) The set V = { f i n C ( R ) :EEpinN, f ( x + p ) = f ( x ) , AAxinR } . Does V form a vector space under the usual addition and scalar multiplication of C ( R ) , the set of all continuous...
-
Show that the set K = { 3 t 2 + 2 t + 1 , t 2 + t + 1 , t 2 + 1 } spans P 2 . ( b ) Is K from part ( a ) a basis for P 2 ? Explain.
-
Solve each compound inequality. Graph each solution set, and write the solution set in interval notation or indicate that the solution is the empty set - x - 1 2 > - 2 and 5 ( x - 3 ) + 6 x > - 1 4
-
Using algebra solve this equation for the variable [ E ] : k [ A ] = d [ A ] [ E ] + c [ E ] [ B ]
-
Actg 493, Fall 2023d Individual Assignment #3 Non-Gaap Measures Due: Thursday, September 21 by 10:30am on blackboard Planet Fitness, Inc. (PLNT) About the company - Planet Fitness, Inc.,...
-
Access the Federation of Tax Administrators Internet site at www. taxadmin.org/state-tax-forms and indicate the titles of the following state tax forms and publications: a. Minnesota Form M-100 b....
-
What are the five components of internal control in the COSO internal control framework?
-
In the audit of the Worldwide Wholesale Company, you did extensive ratio and trend analysis. No material exceptions were discovered except for the following: 1. Commission expense as a percent of...
-
The Meyers Pharmaceutical Company has the following system for billing and recording accounts receivable: 1. An incoming customer's purchase order is received in the order department by a clerk who...
-
According to the monetary approach to the balance of payments, what type of economic policies would help a country resolve a balance of trade deficit?
-
We discussed risk aversion as being descriptive of investor behavior. Can Do you think of any real-world behavior that you might consider to be evidence of the existence of risk preferrers?
-
Pick three developing countries and create a country risk index for them. Rank them ordinally in terms of factors that you can observe (exports, GDP growth, reserves, etc.) by looking at...
Study smarter with the SolutionInn App