Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BSBA Company produced two joint products A and B. and by-products C and D from the same raw materials with joint costs P200,000. The

image text in transcribed

BSBA Company produced two joint products A and B. and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20.000: 30,000: 5,000 and 5,000); Unit sold (18,000: 25,000 5,000 and 5,000): Final unit selling prices (P25.00; P20.00: #2.00 and P1.50); Further processing costs (P150,000; P210,000: P5,000 and P4,000); Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500), if the by-products are presented as other income. what is the total amount of net sales and cost of goods sold, respectively? P950,000 and P475.411 P950,000 and P483,011 P957,600 and P475.411 P957,600 and P483,011 BSBA Company produced two joint products A and B. and by-products C and D from the same raw materials with joint costs P200,000. The entity uses net realizable value in allocating joint costs to joint products. Other information are as follows: Units produced (20.000: 30,000: 5,000 and 5.000). Unit sold (18,000: 25,000: 5,000 and 5,000): Final unit selling prices (P25.00; P20.00: P2.00 and P1.50); Further processing costs (P150,000; P210,000; P5,000 and P4,000): Selling and Administrative expenses (P15,000; P21,000; P500 and P400); Desired profit on C and D (P2,000 and P1,500). If the joint costs are allocated to by-products using the net realizable value, what is the total profit from by products?* C P1.500 P3.235 P3.500 P3.464

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Horngrens Financial and Managerial Accounting

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

4th Edition

978-0133251241, 9780133427516, 133251241, 013342751X, 978-0133255584

More Books

Students also viewed these Accounting questions

Question

3 In your view is (PRODUCT) RED an appropriate corporate activity?

Answered: 1 week ago

Question

Explain possible uses for single-case research.

Answered: 1 week ago