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Allocating Joint Costs Using the Net Realizable Value Method A company manufactures three products, L-Ten, Triol,...
Allocating Joint Costs Using the Net Realizable Value Method A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs $12,600. None of the products can be sold at split-off, but must be processed further. Information on one batch of the three products is as follows: Product Gallons Further Processing Cost per Gallon Eventual Market Price per Gallon L-Ten 3,500 $0.60 $2.60 Triol 4,000 0.90 5.10 Pioze 2,000 1.40 6.00 Required: 1. Allocate the joint cost to L-Ten, Triol, and Pioze using the net realizable value method. Round your allocation percentages to four decimal places and round the allocated costs to the nearest dollar. Joint Cost Grades Allocation L-Ten $ Triol Pioze Total $ 2. What if it cost $1.90 to process each gallon of Triol beyond the split-off point? How would that affect the allocation of joint cost to the three products? Round your allocation percentages to four decimal places and round the allocated costs to the nearest dollar. Joint Cost Grades Allocation L-Ten $ Triol Pioze Total $
Solutions
ekkarill92 answered 1 year agoRelated Solutions
llocating Joint Costs Using the Net Realizable Value Method A company manufactures three products, L-Ten, Triol,...
llocating Joint Costs
Using the Net Realizable Value Method
A company manufactures
three products, L-Ten, Triol, and Pioze, from a joint process. Each
production run costs $12,300. None of the products can be sold at
split-off, but must be processed further. Information on one batch
of the three products is as follows:
Product
Gallons
Further Processing
Cost per Gallon
Eventual Market
Price per Gallon
L-Ten
3,200
$0.70
$2.10
Triol
3,700
1.10
5.40
Pioze
2,000
1.50
6.20...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol,...
Allocating Joint Costs Using the Constant Gross Margin
Method
A company manufactures three products, L-Ten, Triol, and Pioze,
from a joint process. Each production run costs $12,900. None of
the products can be sold at split-off, but must be processed
further. Information on one batch of the three products is as
follows:
Product
Gallons
Further Processing
Cost per Gallon
Eventual
Market
Price per Gallon
L-Ten
3,500
$0.50
$ 2.00
Triol
4,000
1.00
5.00
Pioze
2,500...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol,...
Allocating Joint Costs Using the Constant Gross Margin
Method
A company manufactures three products, L-Ten, Triol, and Pioze,
from a joint process. Each production run costs $12,900. None of
the products can be sold at split-off, but must be processed
further. Information on one batch of the three products is as
follows:
Product
Gallons
Further Processing
Cost per Gallon
Eventual
Market
Price per Gallon
L-Ten
3,500
$0.50
$ 2.00
Triol
4,000
1.00
5.00
Pioze
2,500...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol,...
Allocating Joint Costs Using the Constant Gross Margin
Method
A company manufactures three products, L-Ten, Triol, and Pioze,
from a joint process. Each production run costs $12,900. None of
the products can be sold at split-off, but must be processed
further. Information on one batch of the three products is as
follows:
Product
Gallons
Further Processing
Cost per Gallon
Eventual
Market
Price per Gallon
L-Ten
3,500
$0.50
$ 2.00
Triol
4,000
1.00
5.00
Pioze
2,500...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol,...
Allocating Joint Costs Using the Constant Gross Margin
Method
A company manufactures three products, L-Ten, Triol, and Pioze,
from a joint process. Each production run costs $12,800. None of
the products can be sold at split-off, but must be processed
further. Information on one batch of the three products is as
follows:
Product
Gallons
Further Processing
Cost per Gallon
Eventual
Market
Price per Gallon
L-Ten
3,600
$0.50
$2.00
Triol
4,000
1.00
5.00
Pioze
2,400
1.50...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol,...
Allocating Joint Costs Using the Constant Gross Margin
Method
A company manufactures three products, L-Ten, Triol, and Pioze,
from a joint process. Each production run costs $12,700. None of
the products can be sold at split-off, but must be processed
further. Information on one batch of the three products is as
follows:
Product
Gallons
Further Processing
Cost per Gallon
Eventual
Market
Price per Gallon
L-Ten
3,400
$0.50
$2.00
Triol
4,000
1.00
5.00
Pioze
2,600
1.50...
A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run...
A company manufactures three products, L-Ten, Triol, and Pioze,
from a joint process. Each production run costs $12,900. None of
the products can be sold at split-off, but must be processed
further. Information on one batch of the three products is as
follows:
Product
Gallons
Further Processing
Cost per Gallon
Eventual Market
Price per Gallon
L-Ten
3,200
$0.40
$2.50
Triol
3,700
1.10
5.00
Pioze
2,300
1.60
6.30
Required:
1. Allocate the joint cost to L-Ten, Triol,...
7.26 Sales-Value-at-Split-off Method Allocate the joint costs using the sales-value-at-split-off method. Alomar Company manufactures four products...
7.26 Sales-Value-at-Split-off Method
Allocate the joint costs using the sales-value-at-split-off
method.
Alomar Company manufactures four products from a joint
production process: barlon, selene, plicene, and corsol. The joint
costs for one batch are as follows:
Direct materials $67,900
Direct labor 34,000
Overhead 25,500
At the split-off point, a batch yields 1,400 barlon, 2,600
selene, 2,500 plicene, and 3,500 corsol. All products are sold at
the split-off point: barlon sells for $15 per unit, selene sells
for $20 per unit, plicene...
Allocating joint cost Keiffer Production manufactures three joint products in a single process. The following information...
Allocating joint cost
Keiffer Production manufactures three joint products in a single
process. The following information is available for August:
Sales Value
at Split-Off
Cost after
Final Selling
Product
Gallons
per Gallon
Split-Off
Price
JP-4539
11,700
$14.00
$4.00
$24.00
JP-4587
46,800
25.00
5.00
35.00
JP-4591
35,100
18.00
2.00
22.00
Allocate the joint cost of $1,450,800 to the production based on
the following:
a. number of gallons.
Note: Round proportions to the nearest tenth of a
percentage (i.e. round 13.45% to...
Computing Joint Costs—Sales Value at Split-Off and Net Realizable Value Methods LeMoyne Manufacturing Inc.’s joint cost...
Computing Joint Costs—Sales Value at Split-Off and Net
Realizable Value Methods LeMoyne Manufacturing Inc.’s joint cost of
producing 2,000 units of Product X, 1,000 units of Product Y, and
1,000 units of Product Z is $50,000. The unit sales values of the
three products at the split-off point are Product X–$30, Product
Y–$100, and Product Z–$90. Ending inventories include 200 units of
Product X, 300 units of Product Y, and 100 units of Product Z. In
your interim calculations, round...
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