Based on relative sales values allocate joint costs

Assignment Help Managerial Accounting
Reference no: EM131624844

Exercise

Runner Products produces two Joint products (A and B). Prior to the split-off point, the company incurs costs of $6,110. Product A weighs 29 pounds, and Product B weighs 122 pounds. Product A sells for $97 per pound, and Product B sells for $34 per pound.

Based on relative sales values at the split-off point, allocate Joint costs to Products A and B. (Round relative sales value proportion to 4 decimal places eg.0.4525 and final answers to 0 decimal places.)

Product A

Product B

Reference no: EM131624844

Questions Cloud

What is the incremental cost : What is the incremental cost or savings of going outside vs. conducting the survey as in the past
Discuss a meta-analysis : Perceived Workplace Racial Discrimination and Its Correlates: A Meta-Analysis
Problem related to the gao auditor independence : The GAO reporting standards for performance audits state that each report should include "recommendations for action to correct the problem areas.
Show the journal entries required at the time of disposal : On June 30, 2012, the company sold old office equipment for $24,000. Show the journal entries required at the time of disposal
Based on relative sales values allocate joint costs : Based on relative sales values at the split-off point, allocate Joint costs to Products A and B.
How each of the risks you identified could affect mcdonald : Internal Auditors in the Fast-Food Industry. Internal auditors perform risk-based audits that go beyond the risks of the financial statements.
Consider a potential gap in the literature : Consider a potential gap in the literature that is emerging from your ongoing reading in your field of interest including the two specific articles.
Find the expected return on nike shares : The market price of a share of Nike's equity as of the end of fiscal year 2010 was $74. Find the expected return on Nike's shares as implied by the market price
Explain kinds of uneconomical or inefficient practices : CPA Involvement in an Expanded-Scope Audit. A public accounting firm has been engaged to audit a local food distribution program funded by the U.S. Department.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What is the companys earnings per share for year two

What is the company's earnings per share for Year 2? What is the company's price-earnings ratio for Year 2? What is the company's dividend payout ratio for Year 2? What is the company's dividend yield ratio for Year 2?

  Which if any machine should be purchased

Ignoring taxes, determine the net present value of investing in machine 8. c Which, if any, machine should be purchased?

  Evaluate the tam and the pm for your idea

Evaluate the TAM and the PM for your idea, using the city of Los Angeles as your geographic base. (You're already thinking ahead to expanding, but you know that you need to get well established first.)

  Analysing a service contract using simulation

What is the probability that there will be 4 claims or fewer per day and analysing a service contract using simulation

  Prepare a reconciliation of net income to net cash flows

The accounting records of Baddour Company provided the data below. Prepare a reconciliation of net income to net cash flows from operating activities.

  Determine success of the company in many different facets

Determine the success of the company in many different facets - determine how the organization or firm compares to its goals

  Calculate the other operating expenses for 2014

Explain the possible change that took place in the financing activities over the three- year period and calculate the other operating expenses for 2014.

  Type of costing system

Describe the costs and processes involved in making your firm's product or providing their service, and state what type of costing system might be used (job order, process or hybrid costing)

  Describe some controls that parents

Describe some controls that parents use to keep their homes safe for themselves and their children.

  Determine the equation for total operating costs

Calculate the break-even points between these three sizes - What is the minimum level of examinations the new optometrist must perform to pay for herself (break-even)?

  Shire computer management establishes the year

In December 2012, Shire Computer's management establishes the year 2013 predetermined overhead rate based on direct labor cost.

  Determine the total cost to redecorate the mayor offices

Overhead is applied to contracts by using a predetermined overhead rate that is based on direct professional labor cost.  Actual professional labor during the year was $655,000 and actual overhead was $793,000.

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