Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Im looking at Terrell Corp. how do I figure out the unit sales value and sales value? $2.00 1b. Hogs are processed in the Processing

Im looking at Terrell Corp. how do I figure out the unit sales value and sales value? image text in transcribed
image text in transcribed
$2.00 1b. 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. Required: If joint processing costs were $1,500,000, calculate the total cost of each product using the adjusted sales valur 2. Terrell Corporation manufactures Products X, Y, and Z from a joint process. Additional information is as follows: Product 5X000 2.000 6000 Total 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? 2,000 6,000 13,000 $140,00o $375,000 $70,000 $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: Product Total 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

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

Internal Auditing In Savings And Credit Cooperative Societies

Authors: Daniel Njuguna

1st Edition

B0C8SCJKRT, 979-8223128649

More Books

Students also viewed these Accounting questions