Use excel templates to put answers., the problems out the book are in docx. Cost Allocation

Fill out the cells highlighted in Green Joint Cost Joint Products Quantity at Split-Off Point Relative Proportion Allocation of Joint Cost * Fill out the cells highlighted in Green 1. Decision analysis: Incremental revenue per kilogram: Fill out the cells highlighted in Green 2. Joint cost allocation using net-realizable-value method: Joint Cost Joint Products Sales Value of Final Product Separable Cost of Processing Net Realizable Value* Relative Proportion Allocation of Joint Cost t t *Net realizable value = sales value of final product - separable cost of processing Fill out the cells highlighted in Green Calculation of predetermined fixed overhead rate: Predetermined fixed overhead rate Cost per Unit budgeted fixed overhead budgeted production Fill out the cells highlighted in Green 2 a. Skinny Dippers, Inc. Absorption-Costing Income Statement For the Year Ended December 31, 20x1 b. Skinny Dippers, Inc. Variable-Costing Income Statement For the Year Ended December 31, 20x1 Fill out the cells highlighted in Green 3 Fill out the cells highlighted in Green 4 Difference in = reported income = = 8-21: Straight forward Problem on Absorption Vs Variable Costing. 2(a) Net Income is $200,000 3. Cost of Goods Sold under Absorption Costing: $1,500,000. Skinny Dippers Inc. produces non-fat frozen yogurt. The product is sold in five-gallon containers, which have the following price and variable cost. Sales Price Direct Material Direct Labor Variable Overhead $15 5 2 3 Budgeted fixed overhead in 20x1, the company's first year n operations, was $300,000. Planned and actual production was 150,000 five-gallon containers, of which 125,000 were sold. Skinny Dippers, Inc incurred the following selling and administrative expenses. Fixed Variable $50,000 for the year $1 per container sold Required: 1) Compute the product cost per container of frozen yogurt under (a) variable costing and (b) absorption costing. 2) Prepare Income statements for 20x1 using (a) absorption costing and (b) variable costing. 3) Reconcile the income reported under two methods by listing two key places where the income statement differs 4) Reconcile the income reported under the two methods using the shortcut method. 17-20 to 17-22: Breakfast Cereal Company manufactures two breakfast cereals in a joint process. Cost and Quantity information is as follows: Joint Cost $30,000 Cereal Yummies Crummies Quantity at Split off Point 12,000 KILOGRAMS 8,000 KILOGRAMS Sales Price Per Kilogram $2.00 $2.50 Required: Use physical units methods to allocate the company's joint production cost between Yummies and Crummies. 17-21: Required: Use relative sales method to allocate Breakfasttime Cereal Company's Production cost between Yummies and Crummies. 17-22: Net -Realizable Method Required: Refer to the data of 17-20. Breakfast time cereal company has an opportunity to process its Crummies further into a mulch for ornamental shrubs. The additional processing operation cost .50 per kilogram, and mulch will sell for $3.50 per kilogram