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Can some one please help me with this? 1. Jim Davis Company processes hogs into three products, chops, bacon and sausage. Production and selling price
Can some one please help me with this? 1. Jim Davis Company processes hogs into three products, chops, bacon and sausage. Production and selling price data follow: Chops Bacon Sausage Hogs are processed in the Processing Department. From the split-off point, bacon is smoked, sliced and packaged in the Bacon Department. The cost incurred for these processes was $100,000. In addition, sausage was ground and formed into patties in the Sausage Department after the split-off. This process cost $60,000. 100,000 lbs. 210,000 Ibs. 410,000 lbs. $5.00V lb. $4.00V lb. $2.00/ lb. Required: If joint processin method. g costs were $1,500,000, calculate the total cost of each product using the adjusted sales value 2. Terrell Corporation manufactures Products X, Y, and Z. from a joint process. Additional information is as follows: Product 5,000 $70,000 6,000 Units produced Joint costs Sales value at split off Required: Assuming that joint costs are allocated using the relative sales value at split-off approach, what was the sales value at split off for Product X? 13,000 $140,000 $375,000 2,000 $45,000 3. Nate Company manufactures Products A and B from a joint process that also yields a by-product, X. Nate Company accounts for the revenue from its by-product sales as a deduction from the cost of its main products. Additional information is as follows ProductTotal 30,000 $180,000 $580,000 15, 000 9,000 6,000 Units produced Joint costs Sales value at split off $420,000 $140,000 $20,000 Required: Assuming that joint product costs are allocated using the relative sales value at split-off approach, what was the joint cost allocated to Products A and B
Can some one please help me with this?
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