Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer Correctly fPart 1 of 5 2. 20%, 8 of 40 points O Points: 0 of 6 Save Top Notch Chicken grows and processes

please answer Correctly

image text in transcribedimage text in transcribed
\fPart 1 of 5 2. 20%, 8 of 40 points O Points: 0 of 6 Save Top Notch Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2018 is as follows: (Click the icon to view the production information.) Joint cost of production in July 2018 was $75. A special shipment of 70 kilograms of breasts and 20 kilograms of wings has been destroyed in a fire. Top Notch Chicken's insurance policy provides reimbursement for the cost of the items destroyed. The insurance company permits Top Notch Chicken to use a joint cost allocation method. The splitoff point is assumed to be at the end of the production process. Required Requirement 1a. Calculate the cost of the special shipment destroyed using the sales value at splitoff method. Complete the table below to assist you. (Round the weighting to three decimal places and the allocated costs per kilogram to four decimal places. Round all other amounts to the nearest cent.) Breasts Wings Thighs Bones Feathers Total X Kilograms of product 100 30 50 65 Production information Wholesale selling price per kilogram $ 0.40 $ 0.25 $ 0.40 $ 0.10 $ 0.10 Sales value at splitoff Wholesale Selling Price per Weighting: Sales value at splitoff Kilograms of Kilogram when Production Parts Product Is Complete Joint costs allocated Breasts 100 0.40 Allocated costs per kilogram Wings 30 0 25 Thighs 50 0.40 Bones 65 0. 10 Feathers 5 0. 10 Etext pages Get more help - eck answer Help me solve this 9:23 PM Type here to search O Ei 2/18/2022 Lenovo

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 Miller Nobles, Brenda Mattison, Ella Mae Matsumura

6th Edition

0134486838, 978-0134486833

More Books

Students also viewed these Accounting questions