Maria decided to try her hand at beekeeping. The costs that went into the harvesting process...

Transcribed Image Text:

Maria decided to try her hand at beekeeping. The costs that went into the harvesting process included the cost of the beehives, the original bee colony, and her own time and equipment. This past year, she harvested 168 pounds of honey and 42 pounds of honeycomb for a total cost of $2,000. She has several outlets for selling her organic honey. The average sales price at these outlets is $4 per 8 oz. jar. The honeycomb can be sold as well, for $3 per pound. (a) (c) Your answer is correct. How much of the joint harvesting cost will Maria allocate to each product if she uses the sales value at split-off method? (Round proportion to 4 decimal places, e.g. 0.2516 and final answers to 2 decimal places, e.g. 5,125.25.) Honey Allocated joint costs $ 1828.571 kb) eTextbook and Media Your answer is correct. Honeycomb 171.4286 Attempts: 2 of 4 used How much of the joint cost will she allocate to each product if she uses the physical quantities method? (Round proportion to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,125.) Allocated joint costs eTextbook and Media eTextbook Honey 1600 Honeycomb 400 Assistance Used Attempts: 2 If Maria sells all of the honeycomb and 110 pounds of the honey that she harvested, how much gross margin will she recognize under (1) the sales value at split-off method and (2) the physical quantities method? (1) The sales value at split-off method (Round answers to 2 decimal places, eg. 15.25. Enter negative amounts using either a negative sign preceding the number eg. -45.25 or parentheses e.g. (45.25).) Honey Gross margin $ Honeycomb (2) The physical quantities method (Round answers to O decimal places, eg. 5,125. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Honey Gross margin $ Honeycomb Maria decided to try her hand at beekeeping. The costs that went into the harvesting process included the cost of the beehives, the original bee colony, and her own time and equipment. This past year, she harvested 168 pounds of honey and 42 pounds of honeycomb for a total cost of $2,000. She has several outlets for selling her organic honey. The average sales price at these outlets is $4 per 8 oz. jar. The honeycomb can be sold as well, for $3 per pound. (a) (c) Your answer is correct. How much of the joint harvesting cost will Maria allocate to each product if she uses the sales value at split-off method? (Round proportion to 4 decimal places, e.g. 0.2516 and final answers to 2 decimal places, e.g. 5,125.25.) Honey Allocated joint costs $ 1828.571 kb) eTextbook and Media Your answer is correct. Honeycomb 171.4286 Attempts: 2 of 4 used How much of the joint cost will she allocate to each product if she uses the physical quantities method? (Round proportion to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,125.) Allocated joint costs eTextbook and Media eTextbook Honey 1600 Honeycomb 400 Assistance Used Attempts: 2 If Maria sells all of the honeycomb and 110 pounds of the honey that she harvested, how much gross margin will she recognize under (1) the sales value at split-off method and (2) the physical quantities method? (1) The sales value at split-off method (Round answers to 2 decimal places, eg. 15.25. Enter negative amounts using either a negative sign preceding the number eg. -45.25 or parentheses e.g. (45.25).) Honey Gross margin $ Honeycomb (2) The physical quantities method (Round answers to O decimal places, eg. 5,125. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Honey Gross margin $ Honeycomb