Solution-Compute for the gross profit

Compute for the gross profit

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Reference no: EM133061048

Question - Riley Company produces two products from a joint process: A and C. Joint processing costs for this production cycle are P9,000

	Yards	Sales price per yard at split-off	Disposal cost per yard at split-off	Further processing per yard	Final sale price per yard
A	1,800	7.00	4.50	1.50	8.00
C	2,600	10.00	6.00	3.50	12.25

If A and C are processed further, no disposal costs will be incurred or such costs will be borne by the buyer.

Required -

1. Assume that the products will not be processed further, allocation rate up to three decimal places. Using the net realizable value method, the total joint costs assigned for A is 2,718.

2. Compute for the gross profit if 1,000 yards of A are sold 5,490.

3. Use 6 decimal places for the allocation rate, joint cost allocated round to the nearest peso. Assume that all the products will be processed further. The joint cost assigned for C is 5,986.

Reference no: EM133061048

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Compute for the gross profit

Reference no: EM133061048

Reference no: EM133061048

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