Reference no: EM132759472
Question - Case - Atlas Foods produces three supplemental food products simultaneously through a refining process costing P93,000. The joint products, Alfa and Betters, have a final selling price of P4 per pound and P10 per pound, respectively, after additional processing costs of P2 per pound of each product are incurred after the split-off point. Morefeed, a by-product, is sold at the split-off point for P3 per pound. Additional information are as follows:
Alfa - 10,000 pounds of Alfa, a popular but relatively rare grain supplement of having a caloric value of 4,400 calories/pound.
Betters - 5,000 pounds of Betters, a flavouring material high in carbohydrates with a caloric value of 11,200 calories/pound.
Morefeed - 1,000 pounds of Morefeed, used as a cattle feed supplement with a caloric value of 1,000 calories/pound.
Required -
1. Assuming Atlas Food inventories Morefeed, the by-product, the joint cost to be allocated to Alfa, using the NRV method is?
2. Assuming Atlas Food inventories Morefeed, the by-product, the joint cost to be allocated to Alfa, using physical quantity method (pounds) is?
3. Assuming Atlas Food inventories Morefeed, the by-product, the joint cost to be allocated to Betters, using caloric value per pound is?
4. Assuming Atlas Food does not adjust the joint cost for the value of Morefeed, the by-product, the joint cost to be allocated to Betters, using the NRV method is?
|
What is your profit or loss on the contract
: Treasury bond futures contract with an exercise price of 110 for a premium of $1,500. What is your profit or loss on the contract
|
|
Explain motivational differences between the two typologies
: There are many different types of sexual assaults and many different types of offenders. Although they are different, they can be classified in order to create.
|
|
Use the tax rate schedules to determine the tax liability
: Use the Tax Rate Schedules to determine the tax liability for each. Married taxpayers, who file a joint return, have taxable income of $89,889.
|
|
Do you agree or disagree with the theory
: Do you agree or disagree with the theory? Why or why not? Why do people commit crimes and behave the way they do based on your theory?
|
|
Find the joint cost to be allocated to Alfa
: Assuming Atlas Food inventories Morefeed, the by-product, the joint cost to be allocated to Alfa, using physical quantity method (pounds) is
|
|
Determine the amount of refund or additional tax due
: $7,910 withheld from their paychecks for federal income tax purposes. Determine the amount of refund or additional tax due upon filing their tax return.
|
|
Which system do you think better protects the defendant
: Which system do you think better protects the defendant? Which system seems to have a better chance of getting to the "truth"? Justify.
|
|
Which the order of presentation in statement of financial
: Which the order of presentation in the statement of financial position starts with equity and is followed by liabilities based on? disclosure function is
|
|
What is the amount of gross margin
: Beginning inventory on May 11,500 units @ $4.60. What is the amount of gross margin assuming the weighted average cost flow method is used
|