(10 points) NATIONALS COMPANY uses a manufacturing process from which three products (Cougars, Longhorns & Razorbacks) are obtained. The costs incurred to produce 30 pounds of Cougars, 10 pounds of Longhorns and 100 pounds of Razorbacks were $54. Cougars sell at $2 per pound, Longhorns at $3 per pound and Razorbacks at 10 cents per pound. Required: 32. Assuming that all three products are considered to be joint products and allocations of joint costs are made on the basis of relative quantities the cost per pound assigned to a Cougar is........ 54_ 30 + 10 + 100 33. Assuming that all three products are considered to be joint products and allocations of joint costs are made on the basis of relative sales values, the cost per pound assigned to a Longhorn is..... 4 34 Assuming that cougars and Longhorns are considered to be joint products, Razorbacks are considered to be by-products and allocations of joint costs are made on the basis of relative sales values, Revenue from the sale of byproducts is uncertain and is treated as miscellaneous income, the cost per pound assigned to a Cougar is.......... 120 35. Assuming that cougars and Longhorns are considered to be joint products, Razorbacks are considered to be by-products, and allocations of joint costs are made on the basis of relative sales values. Revenue from the sale of byproducts is treated as miscellaneous income, the cost per pound assigned to a Razorbacks is... 36. Assuming that cougars and Longhorns are considered to be joint products, Razorbacks are considered to be by product, allocations of joint costs are made on the basis of relative sales values and revenue from the sale of byproducts is treated as a reduction of production costs, the cost per pound assigned to a Razorback is......... 10 C 30 x 2 = 60 collo0 x 54 = 32 . 62 (10 points) NATIONALS COMPANY uses a manufacturing process from which three products (Cougars, Longhorns & Razorbacks) are obtained. The costs incurred to produce 30 pounds of Cougars, 10 pounds of Longhorns and 100 pounds of Razorbacks were $54. Cougars sell at $2 per pound, Longhorns at $3 per pound and Razorbacks at 10 cents per pound. Required: 32. Assuming that all three products are considered to be joint products and allocations of joint costs are made on the basis of relative quantities the cost per pound assigned to a Cougar is........ 54_ 30 + 10 + 100 33. Assuming that all three products are considered to be joint products and allocations of joint costs are made on the basis of relative sales values, the cost per pound assigned to a Longhorn is..... 4 34 Assuming that cougars and Longhorns are considered to be joint products, Razorbacks are considered to be by-products and allocations of joint costs are made on the basis of relative sales values, Revenue from the sale of byproducts is uncertain and is treated as miscellaneous income, the cost per pound assigned to a Cougar is.......... 120 35. Assuming that cougars and Longhorns are considered to be joint products, Razorbacks are considered to be by-products, and allocations of joint costs are made on the basis of relative sales values. Revenue from the sale of byproducts is treated as miscellaneous income, the cost per pound assigned to a Razorbacks is... 36. Assuming that cougars and Longhorns are considered to be joint products, Razorbacks are considered to be by product, allocations of joint costs are made on the basis of relative sales values and revenue from the sale of byproducts is treated as a reduction of production costs, the cost per pound assigned to a Razorback is......... 10 C 30 x 2 = 60 collo0 x 54 = 32 . 62
