I need help with 3 homework questions. Please see attached. Thanks.
I need help with 3 homework questions. Please see attached. Thanks.
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The Canning Company processes A, B, and C. During the summer of 2011, the joint costs of processing were $900,000.
The Canning Company processes A, B, and C. During the summer of 2011, the joint costs of processing were $900,000.
There was no beginning or ending inventories for the summer. Production and sales value information for the summer is as follows:
| Product | Cases | Sales Value at Splitoff Point | Separable Costs | Selling Price |
| A | 200,000 | $6 per case | $3.00 per case | $28 per case |
| B | 350,000 | 8 per case | 5.00 per case | 25 per case |
| C | 400,000 | 5 per case | 2.50 per case | 10 per case |
Question: Determine the amount allocated to each product if the estimated net realizable value method is used, and compute the cost per case for each product.
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Chemical, Inc. produces three products: D, E, and F. During October, the joint costs of processing were $300,000.
Chemical, Inc. produces three products: D, E, and F. During October, the joint costs of processing were $300,000.
Production and sales value information for the month is as follows:
| Product | Units Produced | Sales Value at Splitoff Point |
| D | 8,000 liters | $50,000 |
| E | 8,000 liters | 60,000 |
| F | 4,000 liters | 25,000 |
Determine the amount of joint cost allocated to each product if the physical-measure method is used.
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Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes.
Problem 1 – Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned
tomatoes. During the summer of 20X2, the joint costs of processing the tomatoes were $420,000. There was no beginning or ending inventories for the summer. Production and sales value information for the summer is as follows:
Product Cases Sales Value at Splitoff Point Separable Costs Selling Price Catsup 100,000 $6 per case $3.00 per case $28 per case Juice 150,000 8 per case 5.00 per case 25 per case Canned 200,000 5 per case 2.50 per case 10 per case
Question: Determine the amount allocated to each product if the estimated net realizable value method is used, and compute the cost per case for each product.
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