Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 12 15 pts The Southwest Bond Company manufactures 3 final products A. B and C, one by product, D and intermediate product R. During

image text in transcribed
Question 12 15 pts The Southwest Bond Company manufactures 3 final products A. B and C, one by product, D and intermediate product R. During a recent month, the joint cost of producing 2.000 units of C 2.500 units of Rand 500 units of by product was processed for $15,000. Product Rwas processed further into 1.500 units of A and 1,000 units of B at a cost of $12,000. Additional costs to complete A and B were $5.000 and $10,000, respectively. The unit selling prices of A, B, C and D are $17.515. $20 and $5 respectively. The by product D was processed further for $1.000 and is considered as Other Income. D 500t Selling Price $5.00 $1.000 2.000 units Selling Price 520.00 $5.000 1.800 into S$17.00 $15.000 2.500 $12.000 $10.000 1.000 Required: Determine the Unit Cost of each final product and the Net Income when joint costs are allocated on the basis of relative niet realizable value. Use 2 decimal places when entering your final answers, Product | Total Cost Unit Cost Net Income A B Total Net Income

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

Principles Of Financial Accounting

Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel

3rd Edition

0730302296, 978-0730302292

More Books

Students also viewed these Accounting questions

Question

Write a Python program to check an input number is prime or not.

Answered: 1 week ago