Using the sales value at split off method the portion

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4. Using the sales value at split-off method, the portion of the total joint costs allocated to product J  was P9,000. What were the total joint costs? a. P14,400 b. P15,000 c. P18,400 d. P19,000 The Wooden Shoe Company produced three products at a joint cost of P100,000. Two of these products  were processed further. Production and sales were: Product Weight     Sales Additional Processing Costs      A 300,000 lbs. P245,000 P200,000        B 100,000 lbs.    30,000 None     C 100,000 lbs.  175,000 P100,000
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5. If the net realizable value method is used, how much of the joint costs would be allocated to  Product C? Assume that B is accounted for as a joint product. 6. Assume B is a by-product whose sales value is credited to the joint processing costs. If net  realizable value is used, how much of the joint costs would be allocated to Product C? 7. If joint costs are allocated based on relative weight of the outputs, how much of the joint costs  would be allocated to Product A? (All products are joint products). 8. Delta Company produces two products from a joint processes: X and Z. Joint processing costs  for this production cycle are P8,000.       Yard s Sales price per  yard at split-off Disposal cost  per yard at split- off Further processing  per yard Final sales  Price per yard X 1,500 P6.00 P3.50 P1.00 P7.50 Z 2,200 P9.00 P5.00 P3.00 P11.25 If X and Z are processed further, no disposal costs will be incurred or such costs will be borne y the  buyer. Using a physical measure, what amount of joint processing cost is allocated to X and Z? a. P2,500 and P5,500 b. P3,243 and P5,500 c. P2,500 and P4,757 d. P3,243 and P4,757 9. Referring to number 8, using sales value at split-off, what is the total cost allocated to Z? 10. Referring to number 8, if all units of product X were sold, what is the gross profit on sale of  product X if the approximated net realizable value at split-off is used for allocating joint costs? 11. Love Co. manufactures product A and B from a joint process. Sales value at split-off was  P700,000 for 10,000 units of A and P300,000 for 15,000 units of B. Using the sales value at split- off approach, joint costs properly allocated to A were P140,000. Total joint costs were
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Ablen Corporation uses a process cost system and sells a variety of cooked meat. Four joint products  produced out of the process are as follows: Product                      Pounds Produced Class A 1,000  Class B 9,000 Class C    400 Class D 5,100 The split-off point for these products occurs in Division B and the costs incurred up to this point are  P20,000 for direct materials, P15,000 for direct labor, and P7,000 for factory overhead.
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