User Account

All Pages

Show a allocate joint costs using the constant gross margin

Assignment Help Cost Accounting
Reference no: EM132549600

Jarvis Manufacturing produces three products in a joint operation. Information regarding the products appears below:

                                                                      Alpha                        Beta                            Gamma                          Total

Unit produced                                    $ 20,000                    $ 25,000               $ 10,000                  $ 55,000

Sales value at split-off                        $ 150,000                    $ 50,000              $ 20,000               $ 220,000

Additional costs if processed further       $ 10,000                        $ 30,000               $ 5,000             $ 45,000

Sales value if processed further               $ 170,000                    $ 90,000                  $ 28,000              $ 288,000

Joint Costs                                                                                                                                    $ 100,000

Required:

Question (a) Allocate the joint costs using the relative sales value at split-off method.

Question (b) Allocate the joint costs using the constant gross margin percentage method.

Reference no: EM132549600

Questions Cloud

How did protest movements affect communist governments : What caused revolutionary protest movements to arise in communist countries? How did protest movements affect communist governments?
Demonstrate the manufacturing overhead cost per unit : Demonstrate the manufacturing overhead cost per unit of each of the company's two products under the traditional costing system.
Deductible business expense : A deductible business expense must be ordinary, necessary, and reasonable.
How much of the order-processing overhead allocated : Waterway Inc. manufactures two products, sweaters and jackets. How much of the order-processing overhead should be allocated to jackets
Show a allocate joint costs using the constant gross margin : Show a Allocate the joint costs using the constant gross margin percentage method. Allocate the joint costs using the relative sales value at split-off method.
How much are equivalent units for materials : Materials are fully added at the beginning of the process. How much are equivalent units for materials if the FIFO method is used
What role did communism play in the cold war : How did the outcome of the Second World War factor into the Cold War? What role did communism play in the Cold War? What role did nationalism play in the Cold.
What are the equivalent units of production for materials : The Wrapping Department's output during the period consists of 9100 units completed and transferred out, What are equivalent units of production for materials
What are some of pitfalls and limitations of regression : What are some of the pitfalls and limitations of regression and correlation analysis and how might they impact a business decision?

Reviews

Write a Review

Cost Accounting Questions & Answers

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

  Prepare the journal entries

Prepare the journal entries to record the bond issue and interest expense.

  Advise as to the liability of all the parties

Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.

  Prepare revenues budget

Prepare Revenues budget and Production budget in units

  Effect of exchange rate changes on cash and cash

Effect of exchange rate changes on cash and cash

  Corporate governance

You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

  Cost-benefit analysis

A cost-benefit analysis of electronic medical records in primary care

  Non-annual interest rates and annuities

Theory of Interest- Non-annual interest rates and annuities

  Job costing in service organizations

How is job costing in service organizations different from job costing in manufacturing environments?

  Accounting for bad debt expense

Accounting for bad debt expense

  Accounting and partnership problems

Accounting and Partnership problems

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd