Cape cod seafood company purchases lobsters and processes

Reference no: EM13589595

Cape Cod Seafood Company purchases lobsters and processes them into tails and flakes. It sells the lobster tails for $21 per pound and the flakes for $14 per pound. On average, 100 pounds of lobster are processed into 52 pounds of tails and 22 pounds of flakes, with 26 pounds of waste. Assume the company purchased 2,400 pounds of lobster for $4.50 a pound and processed the lobsters with an additional labor cost of $1,800. No materials or labor cost are assigned to the waste. If 1,096 pounds of tails an 324 pound of flakes are sold, what is the:

1) allocated cost of sold items and

2) the allocated cost of ending inveotory?

The company allocates joint costs on a market value basis. Round to the nearest penny. Show work.

Reference no: EM13589595

Questions Cloud

Sunset press has just purchased a new trimming machine that : 1.sunset press has just purchased a new trimming machine that cost 47677. the machine is expected to save 7000 per year

On july 1 2008 falk company signed a contract to lease : on july 1 2008 falk company signed a contract to lease space in a building for 20 years. the lease contract calls for

From the information given prepare a statement of cash : you have completed the field work in connection with your audit of alexander corporation for the year ended december 31

Upper darby park department is considering a new capital : upper darby park department is considering a new capital investment. the following information is available on the

Cape cod seafood company purchases lobsters and processes : cape cod seafood company purchases lobsters and processes them into tails and flakes. it sells the lobster tails for 21

Manning co manufactures and sells trophies for winners of : manning co. manufactures and sells trophies for winners of athletic and other events. its manufacturing plant has the

Marina manufacturing is considering buying new equipment : marina manufacturing is considering buying new equipment for its factory. the new equipment will reduce variable labor

Calculate the massvolume percent of a nacl solution in : question calculate the massvolume percent of a nacl solution in which 127g of nacl is dissolved in enough water to give

Svens cookhouse is a popular restaurant located on lake : svens cookhouse is a popular restaurant located on lake union in seattle. the owner of the restaurant has been trying

User Account

All Pages