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Sheffield Corp. purchased 3 , 2 0 0 pounds of flour in preparation for making its biscuit mix. Every package of mix is expected to
Sheffield Corp. purchased pounds of flour in preparation for making its biscuit mix. Every package of mix is expected to use pounds of flour, with flour budgeted at $ per pound. The production department used pounds of the flour in producing packages of biscuit mix. If the purchasing department paid $ for the initial flour purchase, what was the companys DM price variance?Ruth started as an intern for Waterway Enterprises last month, and this is the first time she is able to see how the joint process costs are initially determined and how they are subsequently divvied up Her mentor shows her the source documents for the DM DL and MOH costs that are necessary for the process to work adding up to $ This joint process results in three different products, two of which are intentionally produced Sift and Rift and one that is a byproduct Nilt Of these three products, Sift is ready for sale immediately after the joint process. Rift and Nilt, however, are both further processed with no change in volume in order to generate a reasonable value for them. While watching her supervisor work through the calculations, Ruth learns that the company uses the NRV method for allocating joint costs. The quantities and values for each product at various processing stages are as follows. Using the sales method of accounting for byproducts, determine how much of the joint cost Ruth will allocate to each product. Round proportion to decimal places, eg and final answers to O decimal places, eg Do not leave any answer field blank. Enter O for amounts.
Sheffield Corp. purchased pounds of flour in preparation for making its biscuit mix. Every package of mix is expected to use pounds of flour, with flour budgeted at $ per pound. The production department used pounds of the flour in producing packages of biscuit mix. If the purchasing department paid $ for the initial flour purchase, what was the companys DM price variance?Ruth started as an intern for Waterway Enterprises last month, and this is the first time she is able to see how the joint process costs
are initially determined and how they are subsequently divvied up Her mentor shows her the source documents for the DM DL and
MOH costs that are necessary for the process to work adding up to $ This joint process results in three different products,
two of which are intentionally produced Sift and Rift and one that is a byproduct Nilt Of these three products, Sift is ready for sale
immediately after the joint process. Rift and Nilt, however, are both further processed with no change in volume in order to generate
a reasonable value for them. While watching her supervisor work through the calculations, Ruth learns that the company uses the
NRV method for allocating joint costs. The quantities and values for each product at various processing stages are as follows. Using the sales method of accounting for byproducts, determine how much of the joint cost Ruth will allocate to each product. Round proportion to decimal places, eg and final answers to O decimal places, eg Do not leave any answer field blank. Enter O for amounts.
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