Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Good Earth Products produces orange juice and candied orange peels. A 1,000 pound batch of oranges, costing $500, is transformed using labor of $50 into 100 pounds of orange peels and 300 pints of juice. The company has determined that the sales value of 100 pounds of peels at the split-off point is $350, and the value of a pint of juice (not pasteurized or bottled) is $0.040. Beyond the split-off point, the cost of the sugar-coating and packaging the 100 pounds of peels is $60. The cost of pasteurizing and packaging the 300 pints of juice is $250. A 100 pound box of candied peels is sold to commercial baking companies for $600. Each pint of juice is sold for $1.75.
Required:
a.) Allocate joint costs using the relative sales values at the split-off point, and calculate the profit per 100 pound box of sugar-coated peels and the profit per pint of juice. Round to the nearest dollar.
b.) What is the incremental benefit (cost) to the company of sugar-coating the peels rather than selling them in their condition at the split-off point?
c.) What is the incremental benefit (cost) to the company of pasteurizing and packaging a pint of juice rather than selling the juice at the split-off point?
Prepare a schedule of cost of goods manufactured for the month. Prepare a schedule of cost of goods sold for the month.
Janel Co acquired a building valued at $120,000 for property tax purpose in exchange for$8,000 shares of its 5 par common stock. The stock is selling for $15 per share. At what amount should the building be recorded by Janel Co.?
Compare and contrast various cost classifications, behaviors, and drivers. You may want to consider what types of financial and nonfinancial performance metrics you will be recommending to be sure we are collecting appropriate costs
Northeast Logging Co. of $120,000. The seller agreed to allow a 5 percent discount because Northeast paid cash. Determine the amount to be capatilized in an asset account for the purchase of the saw.
Compare bottom-line financial results of using the fixed budget and flexible budget if volumes (a) increase by 10% or (b) decrease by 10%.
Prepare general journal entries in general journal form
Marion Chemicals produces a chemical used as a base in paints. In the manufacturing process, all materials are added at the start of the process, whereas labor and overhead are added evenly throughout production.
What is the break-even point in boxes of candy for the company under the existing situation? What selling price per box must the company charge to cover the 15% increase in the cost of the raw materials i.e., candy, and still maintain the current c..
Investigate and prepare a detailed, yet succinct report, which demonstrates a thorough review of the extant literature.
What considerations go into choosing a cost allocation plan? Companies can choose among a few allocation methods. Do some methods make more sense in certain situations than others?
Provide a formal income statement with appropriate headings to show the operating income for the year 2011 under absorption costing approach.
Use the following format to classify each cost as a product cost or a general, selling, and administrative (G,S,A) cost. Also indicate whether the cost would be recorded as an asset or an expense. The first is shown as an example.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd