General chemical produced 10000 gallons of greon and 20000

Assignment Help Accounting Basics
Reference no: EM13569255

General Chemical produced 10,000 gallons of Greon and 20,000 gallons of Baron. Joint costs incurred in producing the two products totaled $7,500. At the split-off point, Greon has a market value of $6.00 per gallon and Baron $2.00 per gallon. What portion of the joint costs should be allocated to Greon if the basis is market value at point of separation?

Reference no: EM13569255

Questions Cloud

On thursday the following bond quotation appears in the : on thursday the following bond quotation appears in the newspaper. interpret each item that appears in the quote and
What is an intangible asset should all intangible assets : what is an intangible asset? should all intangible assets be subject to amortization? explain why or why not. why is
The following items could appear on a bank reconciliation a : the following items could appear on a bank reconciliation a outstanding checks b deposits in transit c nsf check d bank
Abbe company reported the following financial numbers for : abbe company reported the following financial numbers for one of its divisions for the year average total assets of
General chemical produced 10000 gallons of greon and 20000 : general chemical produced 10000 gallons of greon and 20000 gallons of baron. joint costs incurred in producing the two
Sales revenue 420000 cost of goods sold 300000 salaries : the following selected account balances were taken from buckeye companys general ledger at january 1 2005 and december
Does forensic science have sufficient safeguards to avoid : remember that your response needs to be between 200 and 250 words.q1. part one does forensic science have sufficient
Badgersize company has the following information for its : vwork in process inventory august 1 20000 unitsdirect materials 100 complete80000conversion 20 complete24000balance in
Planks plants had net income of 5000 on sales of 90000 last : planks plants had net income of 5000 on sales of 90000 last year. the firm paid a dividend of 1550. total assets were

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the ending invemtory using lifowhat is the ending

inventory march 1 110 units 4.20purchase march 7 350 units 4.40purchase march 16 70 units 4.50purchase march 30 80

  Consider the following budget information materials to be

consider the following budget information materials to be used totals 69750 direct labor totals 198400 factory overhead

  Factoring accounts receivable-journal entry

On May 1, Battery, Inc. factored $800,000 of accounts receivable with Quick Finance on a without recourse basis. Under the arrangement, Battery was to handle disputes concerning service, and Quick Finance was to make the collections

  Use of spreadsheets in accounting information system

Find an article on the use of spreadsheets in Accounting Information System

  Use a separate set of journal entries and t- accounts for

dugan sales had the following transactions for jackets in 2013 its first year of operationsjan 20nbspnbspnbsp purchased

  The tax effect of a net operation loss nol carry back

the tax effect of a net operation loss nol carry back usually1. results in a current receivable at the end of the

  What is the controlling interest in consolidated

40. Keefe Inc, a calendar-year corporation, acquires 70% of George Company on September 1, 2014, and an additional 10% on January 1, 2015. Total annual amortization of $6,000 relates to the first acquisition. George reports the following figur..

  Find the accumulated amount a if the principal p 2000 is

find the accumulated amount a if the principal p 2000 is invested at the interest rate of r 6 per year for t 6 years

  Why is equity capital generally more expensive than debt

Why is equity capital generally more expensive than debt financing?

  What are the primary documents supporting a job

What are the primary documents supporting a job order costing system and what purposes are served by each of them and how does information from a job order costing system support management decision making?

  Statement of cash flows indirect method and direct method

statement of cash flows indirect method and direct method. the net changes in the balance sheet accounts of keating

  Prepare a statement of cash flows for sondegaard corporation

Addtl. Info: Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; cash dividends paid were $50,000; and net income was $160,000 Prepare a statement of cash flows for 2010 for Sondegaard Corporation.

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