None Exercise 11-49 (Algo) Sell or Process Further (LO 11-4)Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs inMay were $574,000. Additional information follows:ProductChem-1UnitsProduced298,000Split-Off$ 230,000Chem-2186,000274,000If Processed FurtherSales Value at AdditionalCostsSales Values$ 33,70030,400$ 270,000300,000Chem-3Chem-4202,000154,000840,000159,600256,400$920,00025,90027,300190,000280,000$ 117,300$ 1,040,000Required:Which, if any, of the four products would you recommend Barrett Chemicals sell at split-off (and not process further)?Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correctanswer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question markwill be automatically graded as incorrect.Chem-1Chem-2Chem-3Chem-4

Recommendation for Barrett Chemicals:We should recommend selling Chem-2 and Chem-3 at the split-off…

Answered: Exercise 11-49 (Algo) Sell or Process…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Exercise 11-49 (Algo) Sell or Process Further (LO 11-4) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $581,000. Additional information follows: Product Chem-1 Chem-2 Chem-3 Chem-4 Units Produced 305,000 193,000 209,000 161,000 868,000 ? Chem-1 ?Chem-2 ?Chem-3 If Processed Further ?Chem-4 Sales Value at Additional Split-Off Costs $ 237,000 281,000 166,600 263,400 $948,000 Required: Which, if any, of the four products would you recommend Barrett Chemicals sell at split-off (and not process further)? Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect. $ 34,400 31,100 26,600 28,000 $ 120,100 Sales Values $ 277,000 307,000 197,000 287,000 $ 1,068,000
Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: Product Chem-1 Chem-2 Chen-3 Chen-4 Units Produced 308,000 196,000 212,000 164,000 880,000 Sales Value at Additional Costs $ 34,700 Split-Off $ 240,000 284,000 169,600 266,400 NRV at Split-Off Product Chem-1 $ 245,300 $ Chem-2 $ 278,600 $ Chem-3 $ 173,100 $ Chem-4 $ 261,700 $ If Processed Further Joint Costs Allocated 31,400 26,900 28,300 $ 950,000 $ 121,300 $ 1,080,000 Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Sales Values $ 280,000 310,000 200,000 290,000 144,328 163,898 101,858 153,972
Exercise 11-47 (Algo) Net Realizable Value Method (LO 11-3) Barrett Chemicals manufactures four chemicals, Chem-1, Chem-2, Chem-3, and Chem-4, from a joint process. The total joint costs in May were $564,000. Additional information follows: If Processed Further Sales Value at Additional Product Chem-1 Chem-2 Units Produced 291,000 Split-Off Costs Sales Values $ 223,000 $ 33,000 $ 263,000 179,000 Chem-3 195,000 Chem-4 147,000 812,000 267,000 152,600 249,400 29,700 293,000 25,200 183,000 26,600 273,000 $ 892,000 $ 114,500 $ 1,012,000 Required: Barrett Chemicals uses the net realizable value method to allocate joint costs. What joint costs would be allocated to each product in May? Note: Round percentages to 2 decimals. Round your final answers to the nearest whole dollar amounts. Product NRV at Split- Off Joint Costs Allocated Chem-1 Chem-2 Chem-3 Chem-4
Exercise 11-52 (Algo) Physical Quantities Method; Sell or Process Further (LO 11-8, 9) The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $193,000. Additional information follows. If Processed Further Product Units Produced 88,000 64,000 28,000 Sales Value at Split-off $280, 000 250,000 190,000 Sales Values Additional Costs $370, 000 310, о00 280,000 KA $58,000 46,000 34,000 KB KC After the putblication of recent sclentific test results, the government has banned the sale of product KC. IF KC is produced, it must be disposed of in an approved way that costs $247,800 for every 28,000 units produced. Requlred: a. Assuming that Kyle Company continues to use the physical quantities method of allocation, what joint costs will be allocated to KA and to KB, respectively? b. Which, if either, product would you recommend Kyle Company sell at split-off? Complete this questlon by entering your answers In the…
PIz-3 Renton Corporation incurred total joint cost of P150.000 to manufacture three joint products, R, E ,and N. These products were further processed for an additional cost of P230,000 and then sold for P410,000 as follows: Additional Processing Costs (all variable) P100,000 80,000 50,000 P230,000 Product Sales P200,000 120,000 90,000 P410,000 N Renton received an offer to sell the products to other processors at split-off. If the offer was accepted, sales would have been: R, P110,000; E, P20,000; and N, P35,000. Rentòn forecasts the same production and sales level. Required: Did the net income increase as a result of processing the products further? How much is the overall net income? а. b. Which of the three products should be sold at split-off point? Which should be processed further? RE
Denver Fabricators manufactures products DF1 and DF2 from a joint process, which also yields a by-product, BP. The company accounts for the revenues from its by-product sales as other income. Additional information follows: DF1 DF2 BP Total Units produced 27,000 18,000 15,000 60,000 Allocated joint costs ? ? ? $ 560,000 Sales value at split-off $ 561,000 $ 187,000 $ 102,000 $ 850,000 Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what joint costs are allocated to each of the joint products DF1 and DF2 and to the by-product, BP?
TB MC Qu. 11-82 (Algo) Atkinson, Incorporated, manufactures products A, B, and C... Atkinson, Incorporated, manufactures products A, B, and C from a common process. Joint costs were $141,900. Additional information is as follows: If Processed Further Additional Product Units Produced A B C 5,700 6,950 3,475 16,125 Sales Value at Split-Off Sales Value $ 38,200 60,465 41,700 $ 52,450 77,840 52,125 Costs $ 3,800 10,425 13,900 $ 140,365 $ 182,415 $ 28,125 Assuming that joint production costs are allocated using the physical quantities method (units produced), what were the costs allocated to Product A? Note: Do not round intermediate calculations.
Benjamin Signal Company produces products R, J, C from a joint process. Each product may be sold at the split off point or be processed further. Joint production costs of $92,000 are allocated to the products based on the relative number of units produced. Data for the current year operations follow: Product Units Allocated Joint Sales Value at Produced Production Spit off Cost $ 32,000 $ 40,000 $ 20,000 $ 76,000 $ 71,000 $ 48,000 R 8,000 10,000 5,000 Product R can be processed beyond the split off point for an additional cost of $26,000 and can then be sold for $105,000. Product J can be processed beyond the split off point for an additional $38,000 and then sold for $117,000. Product C can be processed beyond the split off point for an additional $12,000 and then sold for $57,000. Required: Which products should be processed beyond the split off point? Show your calculations.
Question No. 4 HASF Corporation manufactures products A, B, and C from a joint process. Joint costs are allocated on the basis of relative sales value at the end of the joint process. Additional information for HASF are as follows: B Total Units produced 24,000 Joint costs 240,000 Sales value before additional processing 400,000 Additional costs for further processing 12,000 Sales value if processed further 470,000 12,000 8,000 4,000 144,000 60,000 36,000 240,000 100,000 60,000 28,000 20,000 60,000 280,000 120,000 70,000 Required: a. Which, if any, of products A, B, and C should be processed further and then sold? b. Keeping in view the answer of "part a", write down your critical feedback to support your answer (Word limit Max 200)
HASF Corporation manufactures products A, B, and C from a joint process. Joint costs are allocated on the basis of relative sales value at the end of the joint process. Additional information for HASF are as follows: A B C Total Units produced 12000 8000 4,000 24,000 Joint costs 144000 60,000 36,000 240,000 Sales value before additional processing 240000 100,000 60,000 400,000 Additional costs for further processing 28000 20,000 12,000 60,000 Sales value if processed further 280000 120,000 70,000 470,000 Required: Which, if any, of products A, B, and C should be processed further and then sold? Keeping in view the answer of "part a", write down your critical feedback to support your answer
Questions 3 and 4 are based on the following information: Reeland Inc. which manufactures products X, Y and Z from a joint process. Joint product costs were P60,000. Additional information is provided below: Product X Y Z Units Produced 6,000 4,000 2,000 Sales Value at Split - Off P 40,000 35,000 25,000 If Processed Further Sales Value P 55,000 45,000 30,000 Additional Costs P 9,000 7,000 5,000 3. Assuming that joint product costs are allocated using physical measures (units produced) approach, what were the total costs allocated to product X? 4. Assuming the joint product costs are allocated using the relative sales value at split-off approach, what were the total costs allocated to product Y?
1. 2. Product A B C. EXERCISE 6-7 Sell or Process Further Decisions L06-7 Dorsey Company manufactures three products from a common input in a joint processing opera- tion. Joint processing costs up to the split-off point total $350,000 per quarter. For financial reporting purposes, the company allocates these costs to the joint products on the basis of their relative sales value at the split-off point. Unit selling prices and total output at the split-off point are as follows: sino Inpage onu gosos mamos orli blund? Each product can be processed further after the split-off point. Additional processing requires no special facilities. The additional processing costs (per quarter) and unit selling prices after further processing are given below: maba aris pailless box TODO BA Jim 5 00. Product A. B C. Selling Price $16 per pound $8 per pound $25 per gallon Additional Processing Costs Quarterly Outper 15,000 pounds 20,000 pounds 4,000 gallons $63,000 $80,000 $36,000 Selling Price eidinson…

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