Quiz 3 - ACCT 310 Quiz 3 Fall 2008 Collier Company...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCT 310 – Quiz 3 Fall 2008 Collier Company manufactures three products – Beta, Alpha, and Psi – by a joint production process. Raw materials are put into production in Department 1 and the three products are processed jointly both in this department and in a subsequent department, Department 2. The three products become separable only at the end of processing in Department 2. Beyond this split-off point, Beta is processed further in Department 3. Neither Alpha nor Psi require any further processing beyond the split-off point. No inventory (raw materials, work in process, or finished goods) was on hand at June 1. No raw materials inventory or work in process inventory was on hand at June 30. Additional data for the month of June are as follows: Product Beta Alpha Psi Liters produced 50,000 100,000 75,000 Liters sold 15,000 65,000 55,000 Liters on hand, June 30 35,000 35,000 20,000 Sales price per liter $6.00 $5.00 $3.00 Department 1 2 3 Direct materials requisitioned $ 95,000 $ 40,000 $ 10,000 Direct labor cost 40,000 80,000 20,000
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern