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!
Determine the Joint Cost
A company produces three products, Y1, Y2, and Y3 in the similar process. The data below reflects average monthly results as:
Y1
Y2
Y3
Monthly output (kg)
40,000
20,000
Sales Value at split off (shs.)
0
30,000
105,000
Sales Value after Split off
45,000
100,000
155,000
Costs of further processing
65,000
The joint costs were Shs.100,000
Required
Assign the joint cost employing the three methods employed to assigned joint costs.
Solution
(i) Physical/Measurement/Unit Method
TOTAL
Physical Output: (Kg)
80,000
Proportion
50%
25%
Joint costs allocated
50,000
25,000
(ii) Constant Gross Margin Rate Method
(iii) Net Realizable Value/Method
Net Realizable Value = Ultimate Sales Value - Separable Costs
Ultimate Sales Value:
Less: Separable Costs
(20,000)
(40,000)
(65,000)
Net Realizable Value:
60,000
90,000
175,000
Proportion on Net Realizable Value
14%
34%
52%
Allocation of Joint Costs:
14,000
34,000
52,000
Stopover industries ltd, a recently incorporated company plans to go into production next year. the following standard cost matrix has been assembled for one of the products it pro
Prepare a spreadsheet of an overhead budget for the company in Problem 5 on page 216 of the textbook. You have been running a construction company out of your home with your spouse
fifo method
Accounting for Job Order Costing - Direct Materials Direct materials (i) Dr Stores ledger control Account Cr Cash Account - for cash purchasers X (ii) D
A company has an authorized share capital of 250 million divided into 1,500,000 ordinary shares of sh.100 each and 1,000,000 preference shares of sh.100 each. 1,000,000 ordinary sh
WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS
The balance sheet and income statement for Bingle Ltd is presented to you as follows: Balance Sheet Extract as at 30 June 2012 with comparatives
Andrew Industries is contemplating issuing a 30-year bond with a coupon rate of 7% (annual coupon payments) and a face value of $1000. Andrew believes it can get a rating of A from
Cost sheet is a declaration of cost for a product for given period of time.
The difference among "cost accounting" and "financial accounting are terms demote to the accounting techniques used internally by a company's management to explain the costs of run
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd