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Problem 7-44 (Algo) Joint Products [LO 7-6] The Bean Company provides fresh coffee beans for restaurants, hotels, and other food service companies. Bean offers three types of coffee beans: Premium, Gourmet, and Quality. Each of the three coffees is produced in a joint process in which beans are cleaned and sorted. The sorting process is the split-off point in this joint process, and the output is the three types of beans. The beans can be sold at the split-off point or processeu further, with different types of roasting and additional sorting. The additional processing requires additional, separable processing costs, as shown next. Separable processing requires no special facilities, and the production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $165,000,000. Sales values and costs needed to evaluate Bean's production policy follow: Pounds produced Separable processing cost Pounds sold Total joint cost Sales price/pound (after additional processing) Sales price at split-off Premium 25,000,000 $ 24,000,000 25,000,000 $9 7 Gourmet 30,000,000 $ 22,000,000 30,000,000 Complete this question by entering your answers in the tabs below. Quality 5,000,000 $ 20,000,000 5,000,000 $4 3 Total 60,000,000 $ 66,000,000 60,000,000 $ 165,000,000 Required: 1. Determine last year's unit cost and unit gross profit for each product assuming Bean allocates joint production costs using the physical measure method. 2. Determine unit cost and unit gross profit for each product if Bean allocates joint costs using the sales value at split-off method. 3. Which of Bean's products should be processed further? Pounds produced Separable processing cost Pounds sold Total joint cost Sales price/pound (after additional processing) Sales price at split-off Complete this question by entering your answers in the tabs below. Required 3 Unit cost Unit gross profit Required: 1. Determine last year's unit cost and unit gross profit for each product assuming Bean allocates joint production c physical measure method. LA GILA M 25,000,000 $ 24,000,000 25,000,000 2. Determine unit cost and unit gross profit for each product if Bean allocates joint costs using the sales value at s 3. Which of Bean's products should be processed further? Premium Gourmet Required Required 2 Determine last year's unit cost and unit gross profit for each product assuming Bean allocates joint production costs physical measure method. (Do not round intermediate calculations and round your final answers to 4 decimal places amounts should be indicated by a minus sign.) 5 of 5 yuwa 5,00 $ 20,00 5,00 Next > want Pounds produced Separable processing cost Pounds sold Total joint cost Sales price/pound (after additional processing) Sales price at split-off Complete this question by entering your answers in the tabs below. Unit cost Unit gross profit SPREA MAR 25,000,000 $ 24,000,000 25,000,000 Premium Required: 1. Determine last year's unit cost and unit gross profit for each product assuming Bean allocates joint production physical measure method. Gourmet 2. Determine unit cost and unit gross profit for each product if Bean allocates joint costs using the sales value at 3. Which of Bean's products should be processed further? 5 of 5 www 5,0 $ 20,0 5,C Next > Pounds produced Separable processing cost Pounds sold Total joint cost Sales price/pound (after additional processing) Sales price at split-off Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Which of Bean's products should be processed further? Premium Yes No Required: 1. Determine last year's unit cost and unit gross profit for each product assuming Bean allocates joint productic physical measure method. Process Further 2. Determine unit cost and unit gross profit for each product if Bean allocates joint costs using the sales value 3. Which of Bean's products should be processed further? Gourmet OYes ONO SASAR 25,000,000 $ 24,000,000 25,000,000 Quality OYes ONO 5 of 5 7 6 5 $ 20 Next 5