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The Cocoa Butter Edibles Factory manufactures and distributes chocolate products, (Click the icon to view more information about Cocoa Butter.) Production and sales data for August 2017 are as follows (assume no beginning inventory): (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate how the joint costs of $60,000 would be allocated between chocolate pov i More Info a. Sales value at splitoff method. Begin by entering the appropriate amounts to allocate the joint cos Sales value of total Joint costs . Cocoa beans processed, 22,800 pounds production at splitoff Weighting allocated . Costs of processing cocoa beans to splitoff point (including purchase of beans), $60,000 Chocolate powder $ 16,530 0.1000 $ 6.000 Separable 148.770 Milk chocolate 0.9000 54,000 Production Sales Selling Price Processing Costs $ 165,300 1.0000 $ 60.000 Chocolate powder 12,160 pounds 6,400 pounds 38,360 $8 per pound S Total Milk chocolate 20,140 pounds 13,000 pounds $9 per pound S 56,000 b. Allocate the joint costs using the physical measure method. Begin by entering the appropriate am Cocoa Butter Edibles Factory fully processes both of its intermediate products into chocolate powder or milk chocolate Physical measure of Joint costs There is an active market for these intermediate products. In August 2017, Cocoa Butter Edibles Factory could have sold the chocolate powder liquor base for $29 a gallon and the milk chocolate liquor base for $87 a gallon. total production Weighting allocated Chocolate powder 570 0.2500 $ 15,000 Print Done Milk chocolate 1,710 0.7500 45,000 2.280 1.0000 $ 60,000 Total c. Allocate the joint costs using the net realizable value method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places. Round the joint costs allocated to the nearest whole dollar.) The Cocoa Butter Edibles Factory manufactures and distributes chocolate products. Production and sales data for August 2017 are as follows (assume no beginning inventory): (Click the icon to view more information about Cocoa Butter.) (Click the icon to view the data.) Read the requirements c. Allocate the joint costs using the net realizable value method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places. Round the joint costs allocated to the nearest whole dollar) Net realizable Joint costs A More Info value Weighting allocated Chocolate powder $ 58,920 0.3199 $ 19,194 It purchases cocoa beans and processes them into two intermediate products: 0.6801 125,260 Milk chocolate 40,806 chocolate-powder liquor base and milk-chocolate liquor base. These two 184,180 $ intermediate products become separately identifiable at a single splitoff point. 1.0000 $ Total 60,000 Every 1,200 pounds of cocoa beans yields 30 gallons of chocolate-powder liquor base and 90 gallons of milk-chocolate liquor base. d. Constant gross-margin percentage NRV method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the percentage The chocolate-powder liquor base is further processed into chocolate powder. The overall gross-margin percentage for all joint products together is 44.5825 % Every 30 gallons of chocolate powder liquor base yield 640 pounds of chocolate powder. The milk-chocolate liquor base is further processed into milk chocolate. Every 90 gallons of milk-chocolate liquor base yield 1,060 pounds of milk Now determine the formula to compute the joint costs allocated, then enter the appropriate amounts. (Round your answers to the nearest wholed chocolate. Total production costs Separable processing costs = Joint costs allocated Chocolate powder $ 53,910 38,360 = $ 15,550 Print Done Milk chocolate $ 100.450 56,000 $ 44,450 Requirement 2. What are the gross-margin percentages of chocolate powder and milk chocolate under each of the methods in requirement 1? (Use parentheses or a minus sign when entering negative amounts. Round the percentages to the nearest hundredth percent, X.XX%.) Chocolate powder Milk chocolate Requirement 2. What are the gross-margin percentages of chocolate powder and milk chocolate under each of the methods in requirement 1? (Use parentheses or a minus sign when entering negative amounts. Round the percentages to the nearest hundredth percent, X.XX%.) Milk chocolate Chocolate powder 54.42 % a. Sales value at splitoff 39.30 % b. Physical-measure 45.17 % 44.25 % c. NRV 40.80 % 46.61 % d. Constant gross-margin percentage NRV 44.54 % 44.60 % Requirement 3. Could Cocoa Butter Edibles Factory have increased its operating income by a change in its decision to fully process both of its intermediate products? Show your computations. (Use parentheses or a minus sign when entering decreasing amounts.) Begin by determining the formula to compute the increase/(decrease) in operating income, then enter the appropriate amounts. Increase/(decrease) Incremental revenue Separable processing costs = in operating income $ 42,390 Chocolate powder 80,750 38,360 = Milk chocolate 32,490 56,000 $ = (23,510) Cocoa Butter Edibles Factory could increase operating income if chocolate-powder liquor base is further processed into chocolate powder and if milk-chocolate liquor base is sold at the split off point. This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers