Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the abc company processes unprocessed milik up to

The ABC Company processes unprocessed milik up to the split-off point where two products, Condensed...

80.2K

Verified Solution

Question

Accounting

image
The ABC Company processes unprocessed milik up to the split-off point where two products, Condensed Milk and Skim Mikk result. Ihe roilowing information was collected for the month of October: Direct Moterials processed: 104,000 gallons Production: - Condensed Milik 45,500 gallons - Skim Milik 58,500 gallons Soles: - Condensed Milk $5.00 per gallon - Skim Milk: $4.50 per gallon The costs of purchasing the unprocessed milk and processing it up to the split-off point was $186,480. Condensed Mik may be processed further to yield 45,000 gallons (the remainder is shrinkage) of a medicinal milk product, Medi, for an additional processing cost of $4 per gallon. Medi can be sold for $19 per gallon. Skim Mikk can be processed further to yield 57,200 gallons of ke Cream, for an additional processing cost per gallon of $4, ke Cream can be sold for 59 per gallon. Using estimated net realizable value, what amount of the joint costs would be allocated to Medi and to kce Cream? $675.000 and $286,000 $93,240 and 593,240 $130,982 and $55,498 $86,448 and $100,032

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

Chemistry
1.2K views

There is a total of 6 trials for an experiment involving the measurement of standard enthalpies...

Biology
1.2K views

In their acceptance speech for the Nobel Prize in 1985, Michael Brown and Joseph Goldstein said,...

Psychology
1.2K views

In your own words discuss the following.... In team building, discuss ways in which you develop...

Physics
1.2K views

A small square loop of wire of side is placed inside a large square loop...

Geometry
1.2K views

9 An angle bisector of a triangle divides the opposite side of the triangle into...

Statistics
1.2K views

Suppose one would like to construct a 99 confidence interval for a sample mean when...

Accounting
1.2K views

Need the answers with calculation in excel. highlighted in red? ...

Accounting
1.2K views

Hurricane Inc. purchased a portfolio of available-for-sale securities in 2016, its first year of operations....

Accounting
1.2K views

JOE AND ANNE FILE A JOINT RETURN. THEIR AGI BEFORE SOCIAL SECURITY WAS $ 5,...

Accounting
1.2K views

Novak Inc shows on its statement of financial position its investments accounted for as FV-OCl...

Finance
1.2K views

What is meant by the E cient Market Hypothesis (EMH)? Provide one empirically documented ex-...

Accounting
1.2K views

Instructions For each independent situation above, prepare tHe ap redemption or conversion of the bonds....