Reference no: EM132803293
Question - Maroon Ltd is a company that produces chemicals for the cleaning industry.
One of its processes manufactures join products Y and Z, and by-product X. The company uses the net realizable value of its joint products to allocate joint production costs. The by-product is valued for inventory purposes at its market value less its disposal cost, and this value is used to reduce the joint production cost of P2,015,000. Information regarding the company's August 2020 operations are presented below:
In liters Y Z X
Finished Goods inventory, August 1 30,000 100,000 40,000
August Sales 1,340,000 760,000 240,000
August Production1, 600,000 800,000 200,000
In Peso
Further Processing cost 1,400,000 1,520,000
Final Sales value per Liter 10 14
Sales value per liter at split off 2.40
Disposal Cost per liter 0.40
Required -
1. Calculate the by-product income?
2. Calculate the allocation of joint cost for August for product Y?
3. Calculate the adjusted joint cost for allocation for August?
4. Calculate the unit cost of ending inventory of Product Y?
5. Calculate the allocation of joint cost for August for product Z?
6. Calculate the unit cost of ending inventory of Product Z?
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