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In: Accounting
Exercise 6-14 Computing Joint Costs—Sales Value at Split-Off and Net Realizable Value Methods LeMoyne Manufacturing Inc.’s...
Exercise 6-14
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 sales value percentages to two decimal places and allocated joint cost to three decimal places.
a. Compute the amount of joint cost that would
be included in the ending inventory valuation of the three products
on the basis of their sales values at split-off.
$ 9000
b. Assume that Product Z can be sold for $120 a unit if it is processed after split-off at a cost of $10 a unit. Compute the amount of joint cost that would be included in the ending inventory valuation of the three products on the basis of their net realizable values.
(I need help with part B)
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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...
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...
Physical Units Method, Relative Sales-Value-at-Split-off Method, Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc. (SSI),...
Physical Units Method, Relative Sales-Value-at-Split-off Method,
Net Realizable Value Method, Decision Making
Sonimad Sawmill, Inc. (SSI), purchases logs from independent
timber contractors and processes them into the following three
types of lumber products:
Studs for residential construction (e.g., walls and
ceilings)
Decorative pieces (e.g., fireplace mantels and beams for
cathedral ceilings)
Posts used as support braces (e.g., mine support braces and
braces for exterior fences around ranch properties)
These products are the result of a joint sawmill process that
involves...
Physical Units Method, Relative Sales-Value-at-Split-off Method, Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc. (SSI),...
Physical Units Method, Relative Sales-Value-at-Split-off Method,
Net Realizable Value Method, Decision Making
Sonimad Sawmill, Inc. (SSI), purchases logs from independent
timber contractors and processes them into the following three
types of lumber products:
Studs for residential construction (e.g., walls and
ceilings)
Decorative pieces (e.g., fireplace mantels and beams for
cathedral ceilings)
Posts used as support braces (e.g., mine support braces and
braces for exterior fences around ranch properties)
These products are the result of a joint sawmill process that
involves...
Physical Units Method, Relative Sales-Value-at-Split-off Method, Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc. (SSI),...
Physical Units Method, Relative Sales-Value-at-Split-off Method,
Net Realizable Value Method, Decision Making
Sonimad Sawmill, Inc. (SSI), purchases logs from independent
timber contractors and processes them into the following three
types of lumber products:
Studs for residential construction (e.g., walls and
ceilings)
Decorative pieces (e.g., fireplace mantels and beams for
cathedral ceilings)
Posts used as support braces (e.g., mine support braces and
braces for exterior fences around ranch properties)
These products are the result of a joint sawmill process that
involves...
Physical Units Method, Relative Sales-Value-at-Split-off Method, Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc. (SSI),...
Physical Units Method, Relative Sales-Value-at-Split-off Method,
Net Realizable Value Method, Decision Making
Sonimad Sawmill, Inc. (SSI), purchases logs from independent
timber contractors and processes them into the following three
types of lumber products:
Studs for residential construction (e.g., walls and
ceilings)
Decorative pieces (e.g., fireplace mantels and beams for
cathedral ceilings)
Posts used as support braces (e.g., mine support braces and
braces for exterior fences around ranch properties)
These products are the result of a joint sawmill process that
involves...
Physical Units Method, Relative Sales-Value-at-Split-off Method, Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc. (SSI),...
Physical Units Method, Relative Sales-Value-at-Split-off Method,
Net Realizable Value Method, Decision Making
Sonimad Sawmill, Inc. (SSI), purchases logs from independent
timber contractors and processes them into the following three
types of lumber products:
Studs for residential construction (e.g., walls and
ceilings)
Decorative pieces (e.g., fireplace mantels and beams for
cathedral ceilings)
Posts used as support braces (e.g., mine support braces and
braces for exterior fences around ranch properties)
These products are the result of a joint sawmill process that
involves...
Physical Units Method, Relative Sales-Value-at-Split-off Method, Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc. (SSI),...
Physical Units Method, Relative Sales-Value-at-Split-off Method,
Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc.
(SSI), purchases logs from independent timber contractors and
processes them into the following three types of lumber products:
Studs for residential construction (e.g., walls and ceilings)
Decorative pieces (e.g., fireplace mantels and beams for cathedral
ceilings) Posts used as support braces (e.g., mine support braces
and braces for exterior fences around ranch properties) These
products are the result of a joint sawmill process that involves...
Physical Units Method, Relative Sales-Value-at-Split-off Method, Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc. (SSI),...
Physical Units Method, Relative Sales-Value-at-Split-off Method,
Net Realizable Value Method, Decision Making
Sonimad Sawmill, Inc. (SSI), purchases logs from independent
timber contractors and processes them into the following three
types of lumber products:
Studs for residential construction (e.g., walls and
ceilings)
Decorative pieces (e.g., fireplace mantels and beams for
cathedral ceilings)
Posts used as support braces (e.g., mine support braces and
braces for exterior fences around ranch properties)
These products are the result of a joint sawmill process that
involves...
Physical Units Method, Relative Sales-Value-at-Split-off Method, Net Realizable Value Method, Decision Making Sonimad Sawmill, Inc. (SSI),...
Physical Units Method, Relative Sales-Value-at-Split-off Method,
Net Realizable Value Method, Decision Making
Sonimad Sawmill, Inc. (SSI), purchases logs from independent
timber contractors and processes them into the following three
types of lumber products:
Studs for residential construction (e.g., walls and
ceilings)
Decorative pieces (e.g., fireplace mantels and beams for
cathedral ceilings)
Posts used as support braces (e.g., mine support braces and
braces for exterior fences around ranch properties)
These products are the result of a joint sawmill process that
involves...
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