Reference no: EM132783781
XYZ Co mines a material that that results in wall stones and patio stones. The joint processing costs for these products is $60,000 per month. XYZ Co allocates these costs to the joint products. Each product may be sold as-is (rough) or refined into more standard shapes. The refined product sells for 20% more than the rough product.
XYZ Co currently sells everything it mines. Data concerning these products appear below:
Wall stone Patio stone
Allocated joint processing costs $24,000 $36,000
Sales value as "rough" stone $40,000 $52,000
Costs of refinement $6,000 $10,000
problem 1: In July, all of the Wall stone sales were of rough stone. If XYC Company sells all refined Wall stones in August, by how much will XYZ Company's income change compared to July. (The Company sales of Patio stone are all rough stones in both months.)
a. $8,000 increase
b. $2,000 increase
c. $6,000 decrease.
d. $10,000 increase
e. $18,000 increase
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