Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. acct 254 joint cost allocation assignment vangua

ACCT 254 Joint Cost Allocation Assignment Vanguard Company makes three products, M, N,...

50.1K

Verified Solution

Question

Accounting

ACCT 254
Joint Cost Allocation Assignment
Vanguard Company makes three products, M, N, and P, which come from a joint process. The joint costs for each batch of the products are: $80,000 for direct materials, $40,000 for direct labor, and $30,000 for indirect costs (overhead). Each batch produces 10,000 pounds of product M with a market value of $6 per pound; 5,000 pounds of N with a market value of $12 per pound; and 9,000 pounds of P with a market value of $10 per pound.
Required:
Determine the total amount of joint cost allocated to each of the products, assuming that the allocation is based on the weight of products produced.
Determine the total amount of joint cost allocated to each of the products, assuming that the allocation is based on the market value of the products.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Parramore Corp has $11 million of sales, $2 million of inventories, $2 million of receivables, and...

Statistics
1.2K views

The null and alternate hypotheses are: H0 : μd ≤ 0 H1 : μd > 0...

Biology
1.2K views

Calculating Relative Risk and Odds Ratios Your final answers should be rounded to one decimal point....

Biology
1.2K views

1.What is a Great evolutionary transformation? 2. Why is the evolution of whales puzzling? 3. What was...

Physics
1.2K views

A 0.59 kg object connected to a light spring with a force constant of 19.2 N/m...

Biology
1.2K views

Who initially ordered the Crusades of the 11th century?A. Pope Urban IIB. Byzantine Emperor Alexius...

Statistics
1.2K views

Complete parts a through h for the data below 70 80 46 33 X 40...

Calculus
1.2K views

When making a statistical inference about the mean of a normally distributed population based on...

Algebra
1.2K views

10 freshmen 7 sophomores 7 juniors and 10 seniors are eligible to be on a...

Accounting
1.2K views

Lamps and More Ltd has profit before tax of $1.8 million, with a tax rate...

Accounting
1.2K views

X acquires a coalmine at a cost of $1,660,000. Intangible development costs total $540,000. The...

Finance
1.2K views

Carlsbad Corporation's sales are expected to increase from $5 milion in 2016 to $6 million...