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Company has a joint pro- duction process that converts Zeta into two chemicals: Alpha and Beta. The company purchases Zeta for $12 per pound and incurs a cost of $30 per pound to process it into Alpha and Beta. For every 10 pounds of Zeta, the company can produce 8 pounds of Alpha and 2 pounds of Beta. The selling price for Alpha and Beta are $76.50 and $144.00, respectively.
Unified Chemical generally processes Alpha and Beta further in separable processes to produce more refined products. Alpha is processed separately into Alphalite at a cost of $25.05 per pound. Beta is processed separately into Betalite at a cost of $112.80 per pound. Alphalite and Betalite sell for $105 and $285 per pound, respectively. In the most recent month, Unified Chemical purchased 15,000 pounds of Zeta. The company had no beginning or ending inventory of Zeta.
Allocate the joint costs to Alphalite and Betalite under the following methods:
a. Sales value at splitoff b. Physical measure (pounds) c. Net realizable value
d. Constant gross margin percentage NRV
The amount that Khan, Inc. reports as a net loss for financial reporting purposes in 2011, assuming that it uses the carryback provisions, and that the tax rate is 30% for all periods affected, is ??
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given the following data for harder company compute cost of goods manufactured direct materials used 120000 beginning
raw
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A company is considering the purchase of a new piece of equipment for $90,000. Predicted annual cash inflows from this investment are $36,000 (year 1), $30,000 (year 2), $18,000 (year 3), $12,000 (year 4) and $6,000 (year 5). The payback period is..
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In the accounting for forward exchange contracts, gains and losses are measured usind either spot or forward rates. Which of the following statements concerning measurement of gains and losses is true?
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