Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 15, 2024

49-54 An oil refining company produces 2 joint products (gasoline and diesel) and one by-product (ethylene). Complete the missing information in the table below for

49-54 An oil refining company produces 2 joint products (gasoline and diesel) and one by-product (ethylene). Complete the missing information in the table below for letters A-N. Apportion costs based on production units. (NRV = Net Realisable Value) (M = manufacturing costs) Product Litres M Produced Cost (5) Addition Costs (/litre) Total Addition Costs () Sales (/litre) Total Sales () NRV Total (/litre NRV (E) > 1.1 Gasoline Diesel Total 600.000 300.000 900.000 A B 300,000 0.10 0.15 60,000 660,000 360.000 D 1.05 E 315.000 1.2 Ethylene 100,000 o 0.01 1.000 0.02 2.000 0.01 F

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Taxation Of Individuals And Business Entities 2015

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

6th Edition

978-1259206955, 1259206955, 77862368, 978-0077862367

Students also viewed these Accounting questions

Question

Were the people doing the behavioral observations trained? What was the level of reliability for the various behaviors? Was the level of reliability tested within all the phases of the experiment?

Answered: 1 week ago

Question

★★★★★

You are a manager in charge of monitoring cash flow at a company that makes photography equipment. Traditional photography equipment comprises 80 percent of your revenues, which grow about 2 percent...

Answered: 1 week ago

Question

★★★★★

BB Petroleum, a giant oil company, holds reserves of oil and gas assets. At the end of 2018, assume the cost of BB's oil reserves totaled $234 billion, representing 18 billion barrels of oil in the...

Answered: 1 week ago

Question

★★★★★

Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 160 units @ $ 8.50 =...

Answered: 1 week ago

Question

★★★★★

The figure below shows a storage tank holding natural gas. In an adjacent instrument room, a U-tube mercury manometer in communication with the storage tank reads L-1.9 m. If the atmospheric pressure...

Answered: 1 week ago

Question

★★★★★

Recursion Lab Longest Palindrome Subsequence (LPS) is a "poster child" for recursion and very hard to solve in any other way. In this lab you will create class named LPS and within that class you...

Answered: 1 week ago

Question

★★★★★

9. If an S corp., a calendar year taxpayer, has 72 individual shareholders and one of those shareholders sells his shares to a corporation on June 25, 20X6, when does the S corporation's tax year...

Answered: 1 week ago

Question

★★★★★

The freight forwarder has four different exporters with cargo going from Toronto to Paris via AirFrance. What contract is going to be signed between the freight forwarder and Air France? a. Master...

Answered: 1 week ago

Question

★★★★★

The data set below includes a random sample of the number of tornadoes that touched down in the United States for 5 months out of one year. What is the variance? Round your answer to the nearest...

Answered: 1 week ago

Previous Question Next Question