Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Alfarm Corporation processes raw milk up to the split-off point where two products, cream and liquid skim, are produced and sold. There was no

The Alfarm Corporation processes raw milk up to the split-off point where two products, cream and liquid skim, are produced and sold. There was no beginning inventory. The following material was collected for the month of February: Direct materials processed Production: Sales: Cream 750,000 gallons (727,500 gallons of good product) 442,500 gallons Liquid skim Cream Liquid skim 285,000 gallons 421,500 at $110 per gallon 273,000 at $100 per gallon The cost of purchasing 750,000 gallons of direct materials and processing it up to the splitoff point to yield a total of 727,500 gallons of good product wam $2,280,000. When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated to cream? $1,386,804 $1,140,000 1.300.000 Click Save and Submit to save and submit. Click Save All Answers to save all answers 2 W wwww #3 E L 7 54 $ W R 888 FA % 550 MacBook Pro O 66 7 & 7 8 Te Y Sales: Liquid skim Cream Liquid skim 285,000 gallons 421,500 at $110 per gallon 273,000 at $100 per gallon The cost of purchasing 750,000 gallons of direct materials and processing it up to the splitoff point to yield a total of 727,500 gallons of good product was $2,280,000. When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated to cream? $1,386,804 $1,140,000 $1,368,000 $893,196 ick Save and Submit to save and submit. Click Save All Answers to save all answers 2 Ne W #3 E L 80 83 $ 694 MacBook Pro M R % 5 T > 6 Y & 7 D: n. 0 8image text in transcribedimage text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Introduction To Health Care Management

Authors: Sharon B. Buchbinder, Nancy H. Shanks

3rd Edition

128408101X, 9781284081015

Students also viewed these Accounting questions