Business, 24.03.2021 22:30 daijafoster0
Orchard Fresh, Inc., purchases apples from local orchards and sorts them into four categories. Grade A are large blemish-free apples that can be sold to gourmet fruit sellers. Grade B apples are smaller and may be slightly out of proportion. These are packed in boxes and sold to grocery stores. Apples for slices are even smaller than Grade B apples and have blemishes. Apples for applesauce are of lower grade than apples for slices, yet still suitable for canning. Information on a recent purchase of 20,000 pounds of apples is as follows: Assume that Orchard Fresh, Inc., uses the sales-value-at-split-off method of joint cost allocation and has provided the following information about the four grades of apples:
Grades Pounds Price at Split-Off(per Ib.)
Grade A $1,600 $4.00
Grade B $5,000 1.00
Splices $8,000 0.50
Applesauce $5,400 0.10
Total $20,000
Total joint cost is $18,000.
Required:
1. Allocate the joint cost to the four grades of apples using the sales-value-at-split-off method.
2. What if the price at split-off of Grade B apples increased to $1.20 per pound? How would that affect the allocation of cost to Grade B apples? How would it affect the allocation of cost to the remaining grades?
Answers: 2
Another question on Business
Business, 22.06.2019 04:30
Peyton taylor drew a map with scale 1 cm to 10 miles. on his map, the distance between silver city and golden canyon is 3.75 cm. what is the actual distance between silver city and golden canyon?
Answers: 3
Business, 22.06.2019 10:30
Jack manufacturing company had beginning work in process inventory of $8,000. during the period, jack transferred $34,000 of raw materials to work in process. labor costs amounted to $41,000 and overhead amounted to $36,000. if the ending balance in work in process inventory was $12,000, what was the amount transferred to finished goods inventory?
Answers: 2
Business, 22.06.2019 19:00
Read the scenario. alfonso is 19 years old and has a high school diploma. recently, he was promoted to assistant manager at the fast-food restaurant where he has worked since the age of sixteen. his dream is to become the restaurant’s manager. what is his best option for achieving his dream? he should find another job and work his way up to a higher position. he should hope that his manager transfers to another location and that he is his replacement. he should attend classes at the local college to receive training in management. he should work hard, work longer hours, and remain assistant manager.
Answers: 2
Business, 22.06.2019 19:30
Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e.g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)
Answers: 2
You know the right answer?
Orchard Fresh, Inc., purchases apples from local orchards and sorts them into four categories. Grade...
Questions
History, 06.01.2022 01:10
Mathematics, 06.01.2022 01:10
English, 06.01.2022 01:10
Mathematics, 06.01.2022 01:10
Mathematics, 06.01.2022 01:10
Mathematics, 06.01.2022 01:10
Mathematics, 06.01.2022 01:10
Mathematics, 06.01.2022 01:10
Biology, 06.01.2022 01:20
Business, 06.01.2022 01:20
Mathematics, 06.01.2022 01:20
