Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i Allocating Joint Costs Using the Physical Units Method orchard Fresh, Inc., purchases apples from local orchards and sorts them into four categories. Grade A

image text in transcribed
image text in transcribed
image text in transcribed
i Allocating Joint Costs Using the Physical Units Method orchard Fresh, Inc., purchases apples from local orchards and sorts them into four categories. Grade A are large blemish-free apples that gourmet fruit sellers. Grade B apples are smaller and dlices are even smaller than Grade B apples and have blemishes. Apples for applesauce are of lower arade tham apples for sices, yet stll suitable for canning Information on a recent purchase of 22,000 pounds of apples is as follows can be sold to may be slightly out of proportion. These are packed in boxes and sold to grocery stores. Apples for Grade B Slices Applesauce 1,320 5,500 8,800 6,380 )Total Total joint cost is $17,600. Required: 1. Allocate the joint cost to the four grades of apples using the physical units method. Joint Cost Grades Allocation 0:29 PM 3/25/2019 eBook Joint Cost Round the average cost answer to the nearest cent. Joint Cost Grade B eBook 2. Allocate the joint cost to the four grades of apples by finding the average joint cost per pound and multiplying it by the number of pounds in the grade. Round the average cost answer to the nearest cent. Average cost- per pound. Joint Cost Grade B Slices Applesauce 3. What if there were 1,760 pounds of Grade A apples and 5,060 pounds of Grade B? How would that affect the allocation of cost to these two grades? H would it affect the allocation of cost to the remaining common grades? Joint Cost Grade B 030 PM

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

Students also viewed these Accounting questions