Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

compute the gross margin percentage for each product sold in december using the different methods for allocating the $105,000 joint cost Sales value of total

compute the gross margin percentage for each product sold in december using the different methods for allocating the $105,000 joint cost

Sales value of total Joint costs
production at splitoff Weighting allocated
A 75000
B 62500
C 60000
D 67500
265000

additional info:

Product A 275,000 gallons Product B 100,000 gallons Product C 75000 gallons Product d 50,000 gallons the joint cost of purchasing and processing the crude vegtable oil were 105,000. sunny had no begining or ending inventoryes. sales of product c in december were 45,000 products A, B, and D, were further refined then sold. data related to december are as follows : Separable Processing Costs
to Make Super Products Revenues
Super A $240,000 $375,000
Super B 60,000 150,000
Super D 45,000 75,000

sunny had the options of selling products a, b and d at the splitoff point. this alternative would have yielded the following revenues for the december production:

product A- 75,000

Product B - 62,500

Product D- 67,500

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

Introduction To Financial Accounting

Authors: CHARLES T. HORNGREN AND ET ALL.

11th Edition

9352862473, 978-9352862474

More Books

Students also viewed these Accounting questions

Question

3. What items are typically included in the job description?

Answered: 1 week ago

Question

Describe the types of power that effective leaders employ

Answered: 1 week ago

Question

Describe how leadership styles should be adapted to the situation

Answered: 1 week ago