Sheffield & Sons produces tomato juice and tomato puree from fresh tomatoes grown by local farmers....
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Sheffield & Sons produces tomato juice and tomato puree from fresh tomatoes grown by local farmers. The company purchases large crates of tomatoes and then washes, sorts, scalds, peels, and crushes them, at which point the juice and the pulp are separately identifiable. Sheffield currently processes the pulp further to transform it into his great-great-grandmother's secret-recipe spaghetti sauce. The specifics on each of these products for one month are as follows. Joint processing costs $160,000 Quantity of tomato juice produced Value of tomato juice 5,000 gallons $3 per gallon Quantity of tomato puree produced 16,000 pounds Additional cost to make spaghetti sauce $11,000 Final sales value of spaghetti sauce $194,000 (a) Your answer is correct. Using the NRV method for allocating joint costs, specify how much joint cost will be allocated to the juice and to the puree/spaghetti sauce. (Round proportion to 4 decimal places, e.g. 0.2516 and final answers to 2 decimal places, e.g. 15.25.) (b) Juice Allocated joint costs eTextbook and Media 12128 $ Puree/Sauce 147872 Attempts: 2 of 3 used Sheffield recently became aware of consumer preferences for flavored tomato juice. With some slight modifications to his facility, he could process the tomato juice further and turn it into clam-flavored tomato juice for an additional processing cost of $1,400. With no change in total volume, this flavored juice could sell for $37,000. Given this new information, recalculate the joint cost allocations for both joint products under the NRV method. (Round proportion to 4 decimal places, e.g. 0.2516 and final answers to 2 decimal places, e.g. 15.25.) Allocated joint costs $ Juice $ Puree Sheffield & Sons produces tomato juice and tomato puree from fresh tomatoes grown by local farmers. The company purchases large crates of tomatoes and then washes, sorts, scalds, peels, and crushes them, at which point the juice and the pulp are separately identifiable. Sheffield currently processes the pulp further to transform it into his great-great-grandmother's secret-recipe spaghetti sauce. The specifics on each of these products for one month are as follows. Joint processing costs $160,000 Quantity of tomato juice produced Value of tomato juice 5,000 gallons $3 per gallon Quantity of tomato puree produced 16,000 pounds Additional cost to make spaghetti sauce $11,000 Final sales value of spaghetti sauce $194,000 (a) Your answer is correct. Using the NRV method for allocating joint costs, specify how much joint cost will be allocated to the juice and to the puree/spaghetti sauce. (Round proportion to 4 decimal places, e.g. 0.2516 and final answers to 2 decimal places, e.g. 15.25.) (b) Juice Allocated joint costs eTextbook and Media 12128 $ Puree/Sauce 147872 Attempts: 2 of 3 used Sheffield recently became aware of consumer preferences for flavored tomato juice. With some slight modifications to his facility, he could process the tomato juice further and turn it into clam-flavored tomato juice for an additional processing cost of $1,400. With no change in total volume, this flavored juice could sell for $37,000. Given this new information, recalculate the joint cost allocations for both joint products under the NRV method. (Round proportion to 4 decimal places, e.g. 0.2516 and final answers to 2 decimal places, e.g. 15.25.) Allocated joint costs $ Juice $ Puree
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Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
Posted Date:
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