Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTIONS Impian Ka Sdn Bhd (KSR) purch material was perlita The hthree production department department, the man 3 splits affim e different products-product product and

image text in transcribed
image text in transcribed
QUESTIONS Impian Ka Sdn Bhd (KSR) purch material was perlita The hthree production department department, the man 3 splits affim e different products-product product and product Product is sold to come medy sher spisoftar RM1.50 peser, whereas products and are further proced before they can be sold to customers. Prodat proceed is department 2 and sold at RM 1.20 per litet Product Nis processed in department and sold at RM3.15 per liter. The related data for the last year is given below DEPARTMENT Cost af male 01:1 Direct labor Factory Overhead RM6000 RM 14.000 RM10.000 RM 45.000 RM21.000 RM65.000 PM 49.500 PRODUCT RM 30.000 20 000 10.000 RM 95.000 10 000 Sales Revenge Sales Ending inventory N RM 141750 45 000 15000 There were material.- and finished goods inventaris the start of the last year. The whole quantity of material SL-3 purchased during the year had been usad till the end of the year There were to work in processes the start and end of the year KSE always be market the Net Reale Vol (NRV) cthod to ale joint cost to all of its jou products Required: 1. Find the total cost of products C, B and produced during the last year (1) mars 2. Compute the income of each product as well as the total (9 marks) 3. Explain the difference between a products and by-productie Which of these two is Jon collocated mark Total: 25 Marks 2 Impian Kajang Sdn Bhd (IKSB) purchases a material known as SJ1-3 at 80 sen per liter. The company has three production departments. In department 1, the material SI-3 splits off into three different products - product C, product B and product N. Product C is sold to customers immediately after split-off at RM1.50 per liter, whereas products B and N are further processed before they can be sold to customers. Product B is processed in department 2 and sold at RM 3.20 per liter. Product Nis processed in department 3 and sold at RM 3.15 per liter. The related data for the last year is given below: 3 Cost of material SJI-3 Direct labor Factory Overhead DEPARTMENT 2 RM 96,000 RM 14,000 RM 45,000 RM 10,000 RM 21.000 RM 65.000 RM 49,000 Sales Revenue Sales (liters) Ending inventory (liters) RM 30,000 20,000 10,000 PRODUCT B RM 96,000 30,000 N RM 141,750 45,000 15,000 There were no material SJ1-3 and finished goods inventories at the start of the last year. The whole quantity of material SJI-3 purchased during the year had been used till the end of the year. There were no work in process inventories at the start and end of the year. IKSB always uses market the Net Realizable Value (NRV) method to allocate joint cost to all of its joint products, Required: 1. Find the total cost of products C. B and N produced chiring the last year. (13 marks) 2. Compute the income of each product as well as the total. (9 marks) 3. Explain the difference between joint products and by-products? Which of these two is joint cost allocated to? (3 marks) Total: 25 Marks) QUESTIONS Impian Ka Sdn Bhd (KSR) purch material was perlita The hthree production department department, the man 3 splits affim e different products-product product and product Product is sold to come medy sher spisoftar RM1.50 peser, whereas products and are further proced before they can be sold to customers. Prodat proceed is department 2 and sold at RM 1.20 per litet Product Nis processed in department and sold at RM3.15 per liter. The related data for the last year is given below DEPARTMENT Cost af male 01:1 Direct labor Factory Overhead RM6000 RM 14.000 RM10.000 RM 45.000 RM21.000 RM65.000 PM 49.500 PRODUCT RM 30.000 20 000 10.000 RM 95.000 10 000 Sales Revenge Sales Ending inventory N RM 141750 45 000 15000 There were material.- and finished goods inventaris the start of the last year. The whole quantity of material SL-3 purchased during the year had been usad till the end of the year There were to work in processes the start and end of the year KSE always be market the Net Reale Vol (NRV) cthod to ale joint cost to all of its jou products Required: 1. Find the total cost of products C, B and produced during the last year (1) mars 2. Compute the income of each product as well as the total (9 marks) 3. Explain the difference between a products and by-productie Which of these two is Jon collocated mark Total: 25 Marks 2 Impian Kajang Sdn Bhd (IKSB) purchases a material known as SJ1-3 at 80 sen per liter. The company has three production departments. In department 1, the material SI-3 splits off into three different products - product C, product B and product N. Product C is sold to customers immediately after split-off at RM1.50 per liter, whereas products B and N are further processed before they can be sold to customers. Product B is processed in department 2 and sold at RM 3.20 per liter. Product Nis processed in department 3 and sold at RM 3.15 per liter. The related data for the last year is given below: 3 Cost of material SJI-3 Direct labor Factory Overhead DEPARTMENT 2 RM 96,000 RM 14,000 RM 45,000 RM 10,000 RM 21.000 RM 65.000 RM 49,000 Sales Revenue Sales (liters) Ending inventory (liters) RM 30,000 20,000 10,000 PRODUCT B RM 96,000 30,000 N RM 141,750 45,000 15,000 There were no material SJ1-3 and finished goods inventories at the start of the last year. The whole quantity of material SJI-3 purchased during the year had been used till the end of the year. There were no work in process inventories at the start and end of the year. IKSB always uses market the Net Realizable Value (NRV) method to allocate joint cost to all of its joint products, Required: 1. Find the total cost of products C. B and N produced chiring the last year. (13 marks) 2. Compute the income of each product as well as the total. (9 marks) 3. Explain the difference between joint products and by-products? Which of these two is joint cost allocated to? (3 marks) Total: 25 Marks)

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

The Medicare Recovery Audit Contractor Program A Survival Guide For Healthcare Providers

Authors: Duane C. Abbey

1st Edition

1439821003, 978-1439821008

More Books

Students also viewed these Accounting questions

Question

Write formal and informal proposals.

Answered: 1 week ago

Question

Describe the components of a formal report.

Answered: 1 week ago

Question

Write formal and informal reports.

Answered: 1 week ago