Question: Question Two Kalamata Corporation processes a single material into two separate products A and B. During September, the joint costs of processing were $300,000. Production

Question Two Kalamata Corporation processes a single material into two separate

Question Two Kalamata Corporation processes a single material into two separate products A and B. During September, the joint costs of processing were $300,000. Production and sales value information for the month were as follows: A=10000 units SP=$10 / unit Additional cost $50,000 Super A=8000 units SP = $50/unit Joint Cost of processing $300, 0000 B=15000 units SP=$8 / unit Super B =12000 units SP= $25 / unit $30,000 Required: 1.Allocate the Joint cost between three products using Sales Value at Split off point 2.Compute the gross profit if the company sold 7000 units of Super A and 10000 units of Super B

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Question 6 O out of 3 points Inzamar Corporation uses the FIFO method in its process costing system. Beginning inventory in the mixing department consisted of 6,000 units that were 75% complete with...

all parts please Kalamata Corporation processes a single material into three separate products A B, and C. During September, the joint costs of processing were 530 Production and sales value...

and what is the overall constant gross margin percentage? 5- Khalifa corporation processes a single material into three separate products A,B and C. During September, the joint costs of processing...

Calamata Corporation processes a single material into three separate products A, B, and C. During September, the joint costs of processing were $300,000. Production and sales value information for...

please soulve this question Moda Corporation processes a single material into three separate products X, Y, and Z. During September, the joint costs of processing were $600,000. Production and sales...

10 2 3 6 8 10 110 12 13 140 15 LOVE HITSWer Kamata Corporation processes a single material into three separate products A, B, and C. During September, the joint costs of processing were $300,000....

Calamata Corporation processes a single material into three separate products A, B, and C. During September, the joint costs of processing were $300,000. Production and sales value information for...

Moda Corporation processes a single material into three separate products X, Y, and Z. During September, the joint costs of processing were $600,000. Production and sales value information for the...

PROBLEM 1 ( 8 . 5 Marks ) : PART A ( 5 MARKS ) : Junito Corporation processes a single material into three separate products A , B , and C . During September, the joint costs of processing were $ 6 0...

Ammonia is oxidized with air to form nitric oxide in the first step of the production of nitric acid. Two principal reactions occur: 4 NH 3 + 5O 2 ? 4NO + 6H 2 O 2 NH 3? + 3/2 O 2? ? N 2? + 3H 2 O A...

At year end, Accounts Receivable had a balance of $830,000 and it is estimated that 2% of accounts recelvable will e uncollectible. The Allowanoe for Bad Debts account has a credit balance of $5.000...

The two major sources of short - term financing are a a line of credit and accounts payable. b accounts payable and accruals. c a line of credit and accruals. d accounts receivable and notes payable.

SIMAD UNIVERSITY Class: BACC25 Subject: Islamic Accounting Instructions: a) Follow The Instructions. Midterm Exam Instructor: All Ibrahim Date: 6-4-2022 b) You Have 1.5 Hrs. To Complete This Test. c)...

3. Evaluate your listeners and tailor your speech to them

4. Locate a persuasive speech that you found particularly compelling. Print it out and edit it, removing any and all of the material that you feel is persuasive in nature (for example, the speakers...

3. Informative speeches are everywherein your classroom, on the news, and in your community. Watch an informative speech (or read a transcript, available at the Web sites of many government agencies...