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MissTica
3 years ago
13

Harmon Inc, manufactures two products from a joint process, product A and product B. A standard production run incurs joint cost

s of $45,000 and results in 1,500 units of product A and 2,500 units of product B. Product A sells for $50.00 per unit and Product B sells for $20.00 per unit. Assuming that no further processing occurs after the split-ff point, how much of the joint costs are allocated to Product A and B using the physical measure method
Business
1 answer:
Angelina_Jolie [31]3 years ago
5 0

Answer:

Harmon Inc.

Joint costs of $45,000 allocated to:

Product A = $16,875

Product B = $28,125

Explanation:

a) Data and Calculations:

Joint costs of a standard production run = $45,000

Joint products        Product A     Product B      Total

Production units       1,500            2,500          4,000

Selling price per unit  $50               $20

Allocation of joint costs based on physical measure method:

Product A = $16,875 (1,500/4,000 * $45,000)

Product B = $28,125 (2,500/4,000 * $45,000)

b) Joint costs of $45,000 were incurred by Product A and Product B jointly because they consumed the same resources during the production run.  These costs can be allocated to the products based on established criteria, for example, units of products and sales value.  The purpose is to properly account for the joint costs at split-off.

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A form prepared periodically for each processing department summarizing (1) the units for which the department is accountable an
Kruka [31]

Answer:

B. cost of production report

Explanation:

The cost of production report summarizes all cost activities and its allocation in a department within a specified period of time. It contains the cost for each unit, amount of unit flow, difficulties faced during production.

The factory overhead production report compares actual fixed and variable cost to standard fixed and variable costs. Fixed cost are rent, taxes while variable cost are indirect labor, utilities.

manufacturing cost report contains all costs involved during the manufacturing of a goods such as cost of raw materials and direct labor.

process cost report summarizes the quantity of goods produced in each department as well as the cost incurred by each department.

4 0
3 years ago
Read 2 more answers
Given
Usimov [2.4K]

Total interest=$489.58

Balance after 100th day=$5,819.44

Balance after 180th day=$2,448.77

Final payment=$2,489.58

Compute the total interest, the balances on the 100th and 180th days as well as the final payment of the loan?

In the first place, ordinary interest means simple interest, in other words, the simple interest approach would be used in computing the interest due at every point in time.

Interest=loan balance*interest rate*number of days that interest is due/360 days

Interest on 100th day=$11,500*10%*100/360

Interest on 100th day=$319.444444

balance after 100th day=initial principal+ interest-partial payment

balance after 100th day=$11,500+$319.444444 -$6,000

balance after 100th day=$5,819.444444

Note it has been 80 days since the payment of the last interest on 100th

interest on 180th day=$5819.444444 *10%*80/360

interest on 180th day=$129.320988

balance of the loan on the 180th day=$5,819.444444+$129.320988-$3,500

balance of the loan on the 180th day=$2,448.765432

The final payment would be the balance as of the 180th day plus the interest for the last 60 days(180th-240th)

final interest=$2,448.765432*10%*60/360

final interest =$40.812757

Final payment=$2,448.765432+$40.812757

Final payment=$2,489.58

Total interest=$319.444444+$129.320988+$40.812757

Total interest=$489.58

Find a further guide in the link below:

brainly.com/question/10710550

#SPJ1

7 0
2 years ago
Brief Exercise 22-07 Sunland Company classifies its selling and administrative expense budget into variable and fixed components
prohojiy [21]

Answer:

So whats the question???

Explanation:

7 0
3 years ago
An agency problem can occur when A. it is difficult or expensive for the owners to verify what the agent is actually doing. B. t
GaryK [48]

Answer:

The answer is E.

Explanation:

In a public company, the directors are the agents of the company while the shareholders are the principals(owners) of the company. Because most times, shareholders doesn't have the needed skills and experience to run businesses, they employ director/management (agent) to run their businesses. Most times there is conflict of interest, for example, the managers might prefer a risky business while the shareholders might prefer less risky, this type of scenario creates agency problem.

Agency problem (principal-agent problem) is a conflict of interest that happens when the directors (agent) don't fully represent the best interest of the shareholders (principal)

So all the options in the question represents agency problem.

4 0
2 years ago
During its first year of operations, Cupola Fan Corporation issued 43,000 of $1 par Class B shares for $450,000 on June 30, 2018
jasenka [17]

Answer:

cash                         447,200 debit

   common stock                43,000 credit

   additional paid-in          404,200 credit

-- to record issuance of stocks --

dividends       94,600 debit

        dividends payable   94,600 credit

-- to reocrd declaration of dividends --

dividends payable   94,600 debits

           cash                           94,600 credits

-- to record payment of cash dividends--

Explanation:

issuance of share:

43,000 x 1 =        43,000 common stock

cash procced     447,200 (450,000 - 2,800 flotation cost)

addition paid in 404,200 (difference between common stokc and procceds

dividends entries

dividends: 43,000 x 2.2 = 94,600 dividends

when declaringwe use a payable account

at payment date we write-off the payable and decrease cash.

4 0
3 years ago
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