How much of the joint cost of each production run

Assignment Help Financial Accounting

Reference no: EM133379997

Choi Company manufactures two skin care lotions, Smooth Skin and Silken Skin, from a joint process. The joint costs incurred are $360,000 for a standard production run that generates 240,000 pints of Smooth Skin and 110,000 pints of Silken Skin. Smooth Skin sells for $3.10 per pint, while Silken Skin sells for $5.10 per pint.

Required:

Question 1. Assuming that both products are sold at the split-off point, how much of the joint cost of each production run is allocated to Smooth Skin using the relative sales value method?

Question 2. If no separable costs are incurred after the split-off point, how much of the joint cost of each production run is allocated to Silken Skin using the physical measure method?

Question 3. If separable processing costs beyond the split-off point are $1.10 per pint for Smooth Skin and $1.70 per pint for Silken Skin, how much of the joint cost of each production run is allocated to Silken Skin using a net realizable value method?

Question 4. If separable processing costs beyond the split-off point are $1.10 per pint for Smooth Skin and $1.70 per pint for Silken Skin, how much of the joint cost of each production run is allocated to Smooth Skin using a physical measure method?

Reference no: EM133379997

Questions Cloud

How us foreign policy can influence regime change in country : In your post explain how US foreign policy can influence regime change in other countries. Include a real-life example to demonstrate your point.

How important are mannequins in a display : How important are mannequins in a display? Which do you consider the most effective? Please use references and examples.

How much should prisha have in a savings account : How much should Prisha have in a savings account that is earning 3.50% compounded semi-annually, if she plans to withdraw $1,850 from this account at the end

Identify a conference, career expo or networking event : Identify a conference, career expo or networking event in India that you attended in the recent past. Indicate the name of the event (including when- month

How much of the joint cost of each production run : how much of the joint cost of each production run is allocated to Smooth Skin using the relative sales value method

Compare leadership and followership : Compare leadership and followership.

How to complete the cost analysis and npv analysis : assignment instructions with section highlighted and projection outcomes and the excel financial report but unsure of how to complete the Cost analysis and NPV

Mental Health Rehabilitation Facilities : How does Group Management relate and can help Staffing Shortages that Impacts Mental Health Rehabilitation Facilities ?

Describe the twin features of american communalism : Describe the twin features of American communalism, according to Shain in Chapter 2 of The Myth of American Individualism.

User Account

All Pages