Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. use the information below to answer the following

Use the information below to answer the following question(s). Raynor Manufacturing purchases trees...

80.2K

Verified Solution

Question

Accounting

image

Use the information below to answer the following question(s). Raynor Manufacturing purchases trees from Tree Nursery and processes them up to the split off point, where two products (paper and pancil casings) are obtained. The products are then sold to an indapendent company that markets and distributes them to ratail ourtlets The following information was collacted for the month of October Trees processed: 50 trees (yield is 30,000 sheets of paper and 30,000 pancil casings and no scrap) Production Sales at $0.04 per pa encil casin 30,000 at $0.10 per casin Cost of purchasing 50 trees and processing them up to the split off point to yield 30,000 sheets of paper and 30,000 pencil casings is $1,500 Raynor Manufacturing's accounting department reported no beginning inventories; however, ending inventory amounts reflected 1,000 sheets of paper in stock What are the approximate joint costs assigned to the paper ending inventory if joint costs are allocated using the sales value at split off method? $420.55 $14.29 $435 00 $50.00

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

Psychology
1.2K views

PARAGRAPH 1 Summarize some of the key differences between the general care-giving experiences and circumstances of men...

Basic Math
1.2K views

(A) A gum ball dispenser contains a large number of gum balls in three different colors,...

Geometry
1.2K views

In Exercises 15 to 19 create drawings as needed

Basic Math
1.2K views

In this problem we will give a graph sketch of f(x) = x4 - 4x.(a)...

Basic Math
1.2K views

Write an equation of the line with the given slope, m, and y-intercept (0,b).m =...

Calculus
1.2K views

Given T 3 a b c f x dx 15 and d nd f 7...

Calculus
1.2K views

Let f(x) ={(9-7/x)/(x+5)}Determine the derivative of f.f'(x)= _______Determine the slope of f at x =...

Algebra
1.2K views

Write the complex number in standard form 20 For the toolbar press ALT F10 PC...

Algebra
1.2K views

Use the set of ordered pairs to determine whether the relation is a function Then...

Algebra
1.2K views

10 Point A is the incenter of AFGH Find AS A B C D 3245...

Accounting
1.2K views

Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances...

Finance
1.2K views

4. Imprudential, Inc., has an unfunded pension liability of $415 million that must be paid...