Processed further with additional costs

Assignment Help Financial Accounting
Reference no: EM131259986

Binge Company manufactures products S1 and S2 from a joint process. Product S1 has been allocated $5,000 of total joint costs of $25,000 for the 2,000 units produced. S1 can be sold at the splitoff point for $5 per unit, or it can be processed further with additional costs of $3,500 and sold for $8 per unit. If S1 is processed further and sold, the result would be:

Reference no: EM131259986

Questions Cloud

Derive the describing equation for a stretched string : Derive the describing equation for a stretched string subject to gravity loading and viscous drag. Viscous drag per unit length of string may be expressed by c(∂u/∂t); the drag force is proportional to the velocity. Classify the resulting equation..
What is their tax due-average tax rate-effective tax rate : Bill and Mercedes have $140,000 of taxable income and additional $10,000 of nontaxable income. Using the 2015 married-joint tax rates, what is their tax due, average tax rate, and effective tax rate? If they receive an additional $80,000 of taxable i..
Execute a strategy that produces the quantity demand : Vary the workforce level to execute a strategy that produces the quantity demanded in the prior month.-  Evaluate this plan by computing the costs for January through August.
Problem on thinking about insurance : Consider a one-period model in which an individual's probability of becoming disabled is equal to 0.1. If he/she becomes disabled, then earnings will be equal to 100. In the absence of disability, earnings will be equal to 200. Assume the indivi..
Processed further with additional costs : Binge Company manufactures products S1 and S2 from a joint process. Product S1 has been allocated $5,000 of total joint costs of $25,000 for the 2,000 units produced. S1 can be sold at the splitoff point for $5 per unit, or it can be processed furthe..
Equity investment transactions : The following equity investment transactions were completed by Chung Company in 2016: Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest ..
Create a list of three best practices for companies : From the e-Activity, create a list of three best practices for companies that want to be socially responsible and suggest ways that companies can go about implementing these best practices.
Journalize the entries for the purchase of stock : On March 4, Breen Corporation acquired 7,200 shares of the 200,000 outstanding shares of Melton Co. common stock at $42 plus commission charges of $170. On June 15, a cash dividend of $1.85 per share was received. Using the cost method, journalize th..
Evaluate the pros and cons of this law : The traveler refuses to catch his plane, and asks for an attorney. Analyze this case from both the traveler's and the police officer's perspective. What constitutional rights are at issue? Have any of them been violated?

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  Provide a financial analysis of the business

Your analysis should cover the liquidity and performance of the company. Your report should clearly indicate the ratios and other methods used to evaluate the business for your client.

  Key goal in the strategic plan

Develop a BSC that is aligned to the key goal in the strategic plan, i.e. exceeding revenue of $25 million dollars by 2015. Develop, quantify and justify suitable key performance measurement criteria

  Prepare the journal entries to record above events

Prepare the journal entries to record above events. Assume that the distribution of the earnings on November 30 was payment of a dividend that was declared on November 20.

  Estimate cash collections

Estimate Cash Collections (LO 13-5) Duluth Company is preparing its cash budget for December. The following information is available concerning its accounts receivable: Estimated credit sales for December $ 350,000 Actual credit sales for November $ ..

  Give an example of when stock ownership would be prohibited

Explain how the rules concerning stock ownership apply to partners and professional staff. Give an example of when stock ownership would be prohibited for each.

  Illustrate what is jerold federal income tax filing status

Travis is a full-time student, while Macy earns $7,000 each year from a part-time job. Travis and Macy do not file jointly during either year. Illustrate what is Jerold’s Federal income tax filing status for 2010 and 2011 if all parties reside in:

  Maturity interest paid stated rate effective rate

Determine the price of a $200,000 bond issue under each of the following independent assumptions: Maturity Interest paid Stated Rate Effective rate.

  What is the balance in its common stock account after split

A company has 360,000 shares authorized, 200,000 shares issued, and 100,000 shares outstanding. The par value of its stock is $1 per share. The company does a 2-for-1 stock split. What is the balance in its Common Stock account after the split?

  Straight-line cost recovery method

On June 1, 2011, Skylark Enterprises (not a corporation) acquired a retail store building for $500,000 (with $100,000 being allocated to the land). The store building was 39-year real property, and the straight-line cost recovery method was used.

  Compare and contrast the fasb and iasb versions

SFAC No. 6, paragraph 25: "Assets are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events."

  Preparing a bank reconciliation

Show the effects of recognizing the NSF check on the financial statements by recording the appropriate amounts in a horizontal statements model and determine the true cash balinCe by.preparing a bank reconciliation econciliation as of May 31, 2013..

  What sale price per box should ben hiebert set

Should the two orders be accounted for as one job or two in Hiebert's system?-  What sale price per box should Ben Hiebert set for the second order?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd