Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Winter Inc. manufactures products, Product A, B, C and D as a by product. The products start in Department 1 with processing cost of P50,000

image text in transcribed
Winter Inc. manufactures products, Product A, B, C and D as a by product. The products start in Department 1 with processing cost of P50,000 then to Department 2 for P12,000. After Department 2. Product A is processed further in Department 3 for P6,000 and sold for P30/gal. Product B can be readily sold for P20/gal. Product C goes through processing in Department 4 for P13,000 then sold for P10/gal. The by product is processed in Departments for P1,000 and sold for P0.30. The raw materials processed in Departments 1 and 2 are equal to 700,000 gal Upon processing this would result to production of 60% Product A, 20% Product B. 15% Product Cand 5% to Product D. Deduct the by product's income from the joint cost. Department 3 P6,000 Afor P3o/gal B for P20/ Department 1 250.000 700,000 Department 2 P12,000 Department 4 P13.000 Cfor P10/ Departments P1,000 for 0,30 Required: Determine the Total Cost and Unit Cost for each product using physical units method. Fill in the items below. For answers with decimals, round up to 2 decimal places, Product Total Cost Unit Cost Net Income A B Ic Total Net Income

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

Intermediate Accounting 2007 FASB Update Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

12th Edition

0470128755, 978-0470128756

More Books

Students also viewed these Accounting questions

Question

What is nonverbal communication?

Answered: 1 week ago