Devry ACCT 434 Week 4 Homework Latest
$24
Description
Devry ACCT 434 Week 4 Homework Latest
Page 1
Problem 1– Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer of 20X2, the joint costs of processing the tomatoes were $420,000. There was no beginning or ending inventories for the summer.Production and sales value information for the summer is as follows:
| Product | Cases | Sales Value at Splitoff Point | Separable Costs | Selling Price |
| Catsup | 100,000 | $6 per case | $3.00 per case | $28 per case |
| Juice | 150,000 | 8 per case | 5.00 per case | 25 per case |
| Canned | 200,000 | 5 per case | 2.50 per case | 10 per case |
Question:Determine the amount allocated to each product if the estimated net realizable value method is used, and compute the cost per case for each product. (10 points)
Problem 2 –Zenon Chemical, Inc. processes pine rosin into three products: turpentine, paint thinner, and spot remover. During May, the joint costs of processing were $240,000. Production and sales value information for the month is as follows:
| Product | Units Produced | Sales Value at Splitoff Point |
| Turpentine | 6,000 liters | $60,000 |
| Paint thinner | 6,000 liters | 50,000 |
| Spot remover | 3,000 liters | 25,000 |
Question: Determine the amount of joint cost allocated to each product if the physical-measure method is used. (10 points)
Problem 3 –Oregon Lumber processes timber into four products. During January, the joint costs of processing were $280,000. There was no inventory at the beginning of the month. Production and sales value information for the month is as follows:
| Sales Value at | |||
| Product | Board feet | Splitoff Point | Ending Inventory |
| 2 x 4’s | 6,000,000 | $0.30 per board foot | 500,000 bdft. |
| 2 x 6’s | 3,000,000 | 0.40 per board foot | 250,000 bdft. |
| 4 x 4’s | 2,000,000 | 0.45 per board foot | 100,000 bdft. |
| Slabs | 1,000,000 | 0.10 per board foot | 50,000 bdft. |
Question:Determine the value of ending inventory if the sales value at splitoff method is used for product costing. Round to three decimal places when necessary. (10 points)
|
DeVry Courses helps in providing the best essay writing service. If you need 100% original papers for Devry ACCT 434 Week 4 Homework Latest, then contact us through call or live chat.
Devry ACCT 434 Week 4 Homework Latest
Devry ACCT 434 Week 4 Homework Latest
