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Dima020 [189]
2 years ago
6

McBride’s Dairy has 200 gallons of heavy cream and 600 gallons of skimmed milk and has incurred $1,000 of joint costs at the spl

it-off point. It can sell each product at the split-off point or process it further in relatively similar processes, so management has decided that the most appropriate method for allocating joint costs is the market value at split-off point. One gallon of cream sells for $15, while one gallon of milk sells for $4. How much of the joint cost is allocated to cream? Round percentage calculations to the nearest whole percent. Group of answer choices
Business
1 answer:
Katyanochek1 [597]2 years ago
3 0

Answer:

Cream $560

Explanation:

Units Selling price Sales value Percentage of sales value Allocated cost

Cream200 15    3,000    3,000/5,400 = 56%                1,000 x 56% = $560

Skimmed

milk600 4 2,400 2,400/5,400 = 44% 1,000 x 44% = $440

Total                   $5,400 100% $1,000

Therefore the  amount  of joint cost allocated to cream  is  $560

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Which phrase defines gross domestic product?
ruslelena [56]
The estimation of a nation's general yield of goods and services(normally amid one monetary year) at business costs.
6 0
3 years ago
A company’s Factory Overhead T-account shows total debits of $624,000 and total credits of $646,000 at the end of the year.
trapecia [35]

Answer:

The journal entry is

Dr Cost of sales ---------------$22,000

Cr Factory overhead---------$22,000.

Explanation:

At the end of the year:

Total debits equal $624,000

Total credits equal $646,000.

The difference is $646,000 - $624,000 = $22,000

This $22,000 will be the balance at the beginning of the following year.

So the journal entry to close the balance in the Factory overhead account to cost of goods sold is:

Dr Cost of sales ---------------$22,000

Cr Factory overhead---------$22,000.

This means the overhead is under-applied(actual overhead is greater than the budgeted cost)

8 0
2 years ago
’"People in business get ahead by exploiting the needs of their consumers. The gains of business are at the expense ofsuffering
damaskus [11]

Explanation:

This question is imprecise, because the reason for the existence of business is to satisfy the needs of consumers, being characterized as an economic activity whose main objective is to generate profits.

Therefore, the economic needs of society are not met by companies at the expense of the suffering imposed on their customers, since the goods and services produced exist to satisfy the human needs necessary for a better quality of life.

It is also important to emphasize that, currently, there is a new interaction between company and consumer, where there is a much more direct relationship, where there is a social demand that companies be much more than just profitable entities, consumers expect companies to exercise a social role of contributing to the social and environmental development of the macroenvironment in which it is inserted. Therefore, a company that does not exercise corporate governance in the globalized world, has little conditions to remain in the market in the long run.

8 0
3 years ago
If a school has a capacity of 100 seats and all are full for the term, what can you do to increase profitability? ​
Ksivusya [100]

The school need to increase its tuition fee in order to increase its profitability despite having a full class already.

<h3>What is a profitability?</h3>

This refers to the measurement of an organization's profit in relation to its expenses.

Despite that this capacity of 100 seats are filled for the term, the school can decide to increase its tuition fee in order to increase its profitability for the school session.

Read more about profitability

<em>brainly.com/question/1078746</em>

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6 0
1 year ago
Yesterday, an automobile dealership sold exactly 15 vehicles for a total of $225,000. Did at least one of the vehicles sell for
Lubov Fominskaja [6]

Answer:

Option A is correct

Explanation:

In the question above, we have:

  • 15 vehicles sold for $225,000, therefore, the average price was $225,000/15 = $15,000

A. The median price for the 15 vehicles was $13,000.

If the median price was $13,000, this means that half the cars were at that price or below. For every car that was below $13,000, there has to be a car above $17,000 to balance it out, to make the average stay at $15,000. If half the cars are below $13,000 and the highest cars are not above $16,500, then it would not be possible to have an average of $15,000. This statement implies that at least one car is above $17,000, and therefore has to be above $16,500. This answers to the question. This statement is sufficient.

6 0
3 years ago
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