| 0 The Darl Company operates a simple chemical process to convert a single material to the separate toms, referred to here as X Y and Z Althree and products are separated simultaneously at a single splito point. (Click the icon for additional information) Dung 2017. The prices of them and the Click the icon to view the sales information Head the trees Requirement 1. Compute the cost of entones of X Y and Z for balance sheet purposes and the cost of goods sold for income statement purposes of December 2017.g gross-margin percentage NRV cost a location methods (a) Start with the NRV cost allocation method Begin by computing the retreat value for total production at the point of and the greach producere a d te con Net realable value of total production at spitol Weighting www pruuucts are separated simultaneously at a single uno separate During 2017, the selling prices of the items and the total amou (Click the icon to view the sales information.) al information.) Read the requirements. cost of inventories of X, Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 31, 2 cost allocation methods. cation method. Begin by computing the net realizable value for total production at the point of splitoff and the weighting for each product. (Ent oduction at splitoff 0 More Info Products X and Y are ready for sale immediately upon splitoff without further processing or any other additional costs. Product Z, however, is processed further before being sold. There is no available market price for Z at the splitoff point. The selling prices quoted here are expected to remain the same in the coming year. Print Done Un cal process to convert a single material into three separate Z. All three end products are separated simultaneously at a single During 2017, the selling prices of the items and the total a Click the icon to view the sales information.) Formation.) Re More Info lirements. of inventories of X, Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 3 allocation methods. n method. Begin by compl i More Info - X Ich product. ion at splitoff X- 70 tons sold for $2,000 per ton Y - 240 tons sold for $1,500 per ton .Z - 380 tons sold for $1,000 per ton The total joint manufacturing costs for the year were $400,000. Darl spent an additional $250,000 to finish product Z. There were no beginning inventories of X Y, or Z. At the end of the year, the following inventories of completed units were on hand: X, 130 tons; Y, 60 tons; Z. 20 tons. There was no beginning or ending work in process.. Print Done and then click Check Answer. simple chemical process to convert a single material into three separate and Z. All three end products are separated simultaneously at a single During 2017, the selling prices of the items and the total am (Click the icon to view the sales information.) information.) Read the requirements ost of inventories of X, Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 31 Requirements cost allocation methods. ation method. Begin 0 Requirements luction at splitoff Compute the cost of inventories of X, Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 31, 2017, using the following joint-cost-allocation methods: a. NRV (Net realizable value) method b. Constant gross-margin percentage NRV method Compare the gross-margin percentages for X, Y, and Z using the two methods given in requirement 1. Print Done | 0 The Darl Company operates a simple chemical process to convert a single material to the separate toms, referred to here as X Y and Z Althree and products are separated simultaneously at a single splito point. (Click the icon for additional information) Dung 2017. The prices of them and the Click the icon to view the sales information Head the trees Requirement 1. Compute the cost of entones of X Y and Z for balance sheet purposes and the cost of goods sold for income statement purposes of December 2017.g gross-margin percentage NRV cost a location methods (a) Start with the NRV cost allocation method Begin by computing the retreat value for total production at the point of and the greach producere a d te con Net realable value of total production at spitol Weighting www pruuucts are separated simultaneously at a single uno separate During 2017, the selling prices of the items and the total amou (Click the icon to view the sales information.) al information.) Read the requirements. cost of inventories of X, Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 31, 2 cost allocation methods. cation method. Begin by computing the net realizable value for total production at the point of splitoff and the weighting for each product. (Ent oduction at splitoff 0 More Info Products X and Y are ready for sale immediately upon splitoff without further processing or any other additional costs. Product Z, however, is processed further before being sold. There is no available market price for Z at the splitoff point. The selling prices quoted here are expected to remain the same in the coming year. Print Done Un cal process to convert a single material into three separate Z. All three end products are separated simultaneously at a single During 2017, the selling prices of the items and the total a Click the icon to view the sales information.) Formation.) Re More Info lirements. of inventories of X, Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 3 allocation methods. n method. Begin by compl i More Info - X Ich product. ion at splitoff X- 70 tons sold for $2,000 per ton Y - 240 tons sold for $1,500 per ton .Z - 380 tons sold for $1,000 per ton The total joint manufacturing costs for the year were $400,000. Darl spent an additional $250,000 to finish product Z. There were no beginning inventories of X Y, or Z. At the end of the year, the following inventories of completed units were on hand: X, 130 tons; Y, 60 tons; Z. 20 tons. There was no beginning or ending work in process.. Print Done and then click Check Answer. simple chemical process to convert a single material into three separate and Z. All three end products are separated simultaneously at a single During 2017, the selling prices of the items and the total am (Click the icon to view the sales information.) information.) Read the requirements ost of inventories of X, Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 31 Requirements cost allocation methods. ation method. Begin 0 Requirements luction at splitoff Compute the cost of inventories of X, Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 31, 2017, using the following joint-cost-allocation methods: a. NRV (Net realizable value) method b. Constant gross-margin percentage NRV method Compare the gross-margin percentages for X, Y, and Z using the two methods given in requirement 1. Print Done