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Net Realizable Value Of Joint Products Toledo chemical company buys A-123 for $2.40 a gallon.At the end of distilling in Department 1,A-123 splits off into three products: B-1, B-2, and B-3. Toledo sells B-1 at the split -off point,with no further processing; it processes B-2 and B-3 further before they can be sold.B-2 is fused in Department 2, and B-3 is solidified in Deaprtment 3.Following is a summary of costs and other related data for the year ended June 30. Department (1)Distilling (2)Fusing (3)Solidifying Cost of A-123 $288,000 0 0 Direct labor 72,000 $135,000 $195,000 Manufacturing overhead 60,000 63,000 162,000 Products B-1 B-2 B-3 Gallons Sold 45,000 90,000 135,000 Gallons on hand at year -end 30,000 0 45,000 Sales $90,000 $288,000 $425,250 Toledo had no beginning inventories on hand at July 1 and no A-123 on hand at end of the year on june 30 All gallons on hand on June 30 were complete as to processing.Toledo uses the net realizable value method to allocate joint costs. Required Compute a)The realizable value of B-1 for the year ended June 30? b)The joint costs for the year ended June 30 to be allocated? c)The cost of B-2 sold for the year ended june 30.? d)The value of the ending inventory for B-1?
Mountain Springs Inc. bottles and distributes springwater. On May 2 of the current yer, Mountain Springs re acquired 3,000 shares of its common stock at $72 per share.
accola company uses activity-based costing. the company has two products a and b. the annual production and sales of
a firm of manufacturers whose books are closed on 31stdecember purchased machinery for rs.50000 on 15 january1980.
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select an organization that started as a brick-and-mortar business and is now engaged in e-business such as toys r us
The central stores fund of cook city provides centralized management of purchasing, storage,and issue of supplies for the entire city. For the following summarized transactions and events for the year ended june 30, provide the fund level entries ..
Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her. She also maintains the household in which her parents live and furnished 60% of their support.
On August 1, it distributed property with an adjusted basis of $5,000 and a fair market value of $8,000 to its sole shareholder, Pedro Urritia. How much of the distribution will be treated as a dividend?
avant designs designs and manufactures polished-nickel fashion bracelets. it offers two bracelets aztec and mayan. the
Calculate the amount of the unrealized loss shownon ZZ, Inc.'s 2007 income statement.
the following direct materials and direct labor data pertain to the operations of laurel company for the month of
1. Calculate the return on equity for Abercrombie in 2012. (Enter your answers in millions, not in dollars. Round your answers to 1 decimal place.)
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