Carla Vista produces two joint products, Coconut Milk and Coconut Meat. The company uses the leftover Coconut Skin as a by-product. All three are produced from joint costs of $78800: direct materials amounting to $53500 and another $25300 for direct labor and manufacturing overhead. Beginning inventory for all three products is zero. Information for production of the product is as follows: Product Coconut Milk Coconut Meat Coconut Skin $8030. O $3290. $2030. Units Produced in lbs O $0. 24800 13100 3290 Units Sold in lbs 20500 11100 2030 Sale Price per lb $1.30 6.20 How much in joint costs should be allocated to the by-product, using the production method? 1.00
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- Coconuts N More produces two joint products, Coconut Milk and Coconut Meat. The company uses the leftover Coconut Skin as a by-product. All three are produced from joint costs of $75,000: direct materials amounting to $50,000 and another $25,000 for direct labor and manufacturing overhead. Beginning inventory for all three products is zero. Information for production of the product is as follows: Product Units Produced in lbs. Units Sold in lbs. Sales price per lb. Coconut Milk 21,000 19,500 $1.30 Coconut Meat 12,200 10,300 6.20 Coconut Skin 2,250 2,000 1.00 How much in joint costs should be allocated to the by-product, using the sales method? Question 1 options: a) $0.00 b) $2,000.00 c) $2,250.00 d) $1,604.00Shanghai Company sells glasses, fine china, and everyday dinnerware. It uses activity-based costing to determine the cost of the shipping and handling activity. The shipping and handling activity has an activity rate of $13 per pound. A box of glasses weighs 2 pounds, a box of fine china weighs 4 pounds, and a box of everyday dinnerware weighs 6 pounds. a Determine the shipping and handling activity cost to be allocated to each unit of product. Product Amount Glasses $fill in the blank 1 Fine China $fill in the blank 2 Everyday dinnerware $fill in the blank 3 b Determine the total shipping and receiving costs to be allocated to the fine china if 1,900 boxes are shipped.fill in the blank 1 of 1$Shanghai Company sells glasses, fine china, and everyday dinnerware. It uses activity-based costing to determine the cost of the shipping and handling activity. The shipping and handling activity has an activity rate of $12 per pound. A box of glasses weighs 2 pounds, a box of fine china weighs 4 pounds, and a box of everyday dinnerware weighs 6 pounds. a Determine the shipping and handling activity cost to be allocated to each unit of product. Glasses $fill in the blank 1 Fine China $fill in the blank 2 Everyday dinnerware $fill in the blank 3 b Determine the total shipping and receiving costs to be allocated to the fine china if 2,200 boxes are shipped.$fill in the blank 4
- Martha's Meat Corporation uses a process cots system and sells a variety of cooked meat, skins and cuttings. Four joint products produced out of the process are as follows: Products Amount Produced Lit-tid 1000 Tad-yang 9000 Pang-a 400 Soup No.5 51000 The split off point for these products occurs in Division B and the costs incurred up to this point are P20000 for direct materials, P15000 for direct labor, and P7000 for Factory Overhead. What are the joint costs allocation to tad-yang by using the physical output method for Lit-tid and Tadyang Respectively?Shanghai Company sells glasses, fine china, and everyday dinnerware. It uses activity-based costing to determine the cost of the shipping and handling activity. The shipping and handling activity has an activity rate of $14 per pound. A box of glasses weighs 2 pounds, a box of fine china weighs 4 pounds, and a box of everyday dinnerware weighs 6 pounds. a Determine the shipping and handling activity cost to be allocated to each unit of product. Glasses Fine China $ $ Everyday dinnerware b Determine the total shipping and receiving costs to be allocated to the fine china if 3,400 boxes are shipped. $Chhom, Inc., manufactures and sells two products: Product F9 and Product U4. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Product F9 500 4 2,000 Product U4 1,000 2 2,000 Total direct labor-hours 4,000 The direct labor rate is $25.50 per DLH. The direct materials cost per unit is $274 for Product F9 and $222 for Product U4. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Cost Pools Activity Measures Overhead Cost Product F9 Product U4 Total Labor-related DLHs $ 31,900 2,000 2,000 4,000 Production orders orders 50,640 600 1,000 1,600 Order size MHs 103,200 3,300 2,600 5,900 $ 185,740 If the company allocates all of its overhead based on direct labor-hours using its…
- Data table Milk Ghee, byproduct Production (in gallons) 580,000 13,000 Sales (in gallons) Selling Price per Gallon 556,800 $ 12,350 $ 1.00 0.60Delica Corportion is a contract manufacturer for the Mayon Dressing Company. Delica Corporation uses a FIFO method to account for its production of its salad dressing. All materials are added at the start of the process. Mayon provides reusable vats to Delica Corporation for the completed product to be shipped to Mayon for Bottling so Delica Corporation incurs no packaging costs. April 2010 production and cost data for Delica Corporation is as follows: Gallons of dressings in beginning inventory 36,000 Gallons transferred out during April 242,000 Gallons of dressing in ending inventory 23,500 Costs of beginning inventory: Direct materials P 180,000 Direct labor 26,100 Overhead 70,300 Costs incurred in April Direct materials P 1,131,435 Direct labor 451,728 Overhead 773,330 The beginning and ending inventories had the following stages of completion for labor and overhead:…Delica Corportion is a contract manufacturer for the Mayon Dressing Company. Delica Corporation uses a FIFO method to account for its production of its salad dressing. All materials are added at the start of the process. Mayon provides reusable vats to Delica Corporation for the completed product to be shipped to Mayon for Bottling so Delica Corporation incurs no packaging costs. April 2010 production and cost data for Delica Corporation is as follows: Gallons of dressings in beginning inventory 36,000 Gallons transferred out during April 242,000 Gallons of dressing in ending inventory 23,500 Costs of beginning inventory: Direct materials P 180,000 Direct labor 26,100 Overhead 70,300 Costs incurred in April Direct materials P 1,131,435 Direct labor 451,728 Overhead 773,330 The beginning and ending inventories had the following stages of completion for labor and overhead:…
- Holy Cow is a producer of milk and byproducts. A single production process at Holy Cow yields milk as the main product, as well as ghee, a byproduct of milk production, that can be sold. Both products are fully processed by the splitoff point, and there are no separable costs. For the month of October 2020, the cost of operations is $380,000. Production and sales data are as follows: (Click the icon to view the production and sales data.) There were no beginning inventories on October 1, 2020. Read the requirements. Requirements 1. What is the gross margin for Holy Cow under the production method and the sales method of byproduct accounting? 2. What are the inventory costs reported in the balance sheet on October 31, 2020, for the main product and byproduct under the two methods of byproduct accounting in requirement 1? Print - X Done Data table Milk Ghee, byproduct Production (in gallons) 540,000 12,000 Print Sales (in gallons) Selling Price per Gallon 523,800 $ 11,400 $ Done 0.80…Nole, Incorporated, manufactures and sells two products: Product W8 and Product NO. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Product W8 Product NO Total direct labor-hours Total Direct Labor-Hours 900 11,000 11,900 The direct labor rate is $17.40 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per Unit $ 176.40 $ 280.50 Product W8 Product NØ Expected Production 100 1,000 Activity Cost Pools Labor-related Machine setups Order size Direct Labor- Hours Per Unit 9.0 11.0 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Expect Activity Product NO 11,000 400 4,200 Multiple Choice Activity Measures DLHS setups MHS Estimated Overhead Cost $461,720 25,865 796,220 $ 1,283,805 The overhead applied to each unit of Product W8 under…Cider Hill Farm is a producer of milk and byproducts. A single production process at Cider Hill Farm yields milkas the main product, as well as ghee, a byproduct of milk production, that can be sold. Both products are fullyprocessed by the splitoff point, and there are no separable costs. For the month of October 2020, the cost ofoperations is $335,000.Production and sales data are as follows: Cider Hill Farm is a producer of milk and byproducts. A single production process at Cider Hill Farm yields milk as the main product, as well as ghee, a byproduct of milk production, that can be sold. Both products are fully processed by the splitoff point, and there are no separable costs. For the month of October 2020, the cost of operations is $335,000. Production and sales data are as follows: (Click the icon to view the production and sales data.) There were no beginning inventories on October 1, 2020. Read the requirements Requirement 1. What is the gross margin for Cider Hill Farm under…