622 Online Summer 2019 Jason Levy - | 7/14/19 8:36 PM Review Homework: Chapter 16 Score: 0 of 1 pt 4 3 of 5 v } HW Score: 67.86%, 3.39 of 5 pts E16-22 (similar to) 55 Question Help 9 Ready Foods produces two types of microwavable products: beefavored ramen and shrimp-avored ramen. The two products share common inputs such as noodle and spices. The production of ramen results in a waste product referred to as stock, which Ready dumps at negligible costs in a local drainage area. In June 2014, the following data were reported for the production and sales of beef-avored and shrimp-avored ramen: 'Click the icon to view the data.) Due to the popularity of its microwavable products, Ready decides to add a new line of products that targets dieters. These new products are produced by adding a special ingredient to dilute the original ramen and are to be sold under the names Special B and Special 8, respectively. Following are the monthly data for all the products: a (Click the icon to view the monthly data for all products.) Read the muirements. Requirement 1. Calculate Ready's gross-margin percentage for Special B and Special 8 using the different methods for allocating the joint costs. a. Allocate the joint costs using the sales value at splitoff method. Begin by entering the amounts in the table and allocate the joint costs. (Enter the weighting to two decimal places.) Sales value at splitoff: Special BI Special SI beef ramen shrimp ramen Total Sales value of total production at splitoff $ 130.000 $ 320,000 $ 450.000 Weighting 0.29 0.71 1.00 Joint costs allocated 66444 163556 $ 230,000 This question has not been completed. 0 Data Table Joint costs (costs of noodles, spices, and other inputs and processing to splito point) Beginning inventory (tons) Production (tons) Sales (tons) Selling price per ton Joint Costs 230,000 Beef Shrimp Ramon Ramon 0 0 13,000 16,000 13,000 16,000 10 $ 20 Dal-a Tahln Joint Costs Special B Special S Joint costs (costs of noodles, spices, and other inputs and processing to splitoff point) $ 230,000 Separable costs of processing 13,000 tons of Beef Ramen into 15,000 tons of Special B Separable costs of processing 16,000 tons of Shrimp Ramen into 20,000 tons of Special 8 $ 140,000 Beef Shrimp Ramon Ramen Special B Special 3 Beginning inventory (tons) 0 0 0 0 Production (tons) 13,000 16,000 15,000 20,000 Transfer for further processing (tons) 13,000 16,000 Sales (tons) 15,000 20,000 Selling price per ton 10 $ 20 $ 20 $ 33 Print Done