Answer the following 3 questions
Prob 1 (16) 1a. PANEL A: Allocation of Joint Costs using Sales Value atSpecial B/Special S/ Shrimp RamenTotal Splitoff MethodBeef Ramen Sales value of total production at splitoff point kelli horne: kelli horne: Production tons x Selling Price per tonWeighting Joint costs allocated PANEL B: Product-Line Income Statement for June 2017 Revenues Deduct joint costs allocated (from Panel A) Deduct separable costs Gross margin Gross margin percentageERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! 1b.Special B/Beef RamenSpecial S/ Shrimp RamenTotal PANEL A: Allocation of Joint Costs using Physical-Measure Method Physical measure of total production (tons)0 Weighting ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! Joint costs allocated Special BSpecial STotal PANEL B: Product-Line Income Statement for June 2017 Revenues$0 Deduct joint costs allocated (from Panel A)000 Deduct separable costs0 Gross margin$0$0$0 Gross margin percentageERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! 1c. PANEL A: Allocation of Joint Costs using Net Realizable Value MethodSpecial BSpecial STotal Final sales value of total production during accounting period kelli horne: kelli horne: Sales (tons) x Selling Price per ton kelli horne: kelli horne: Sales (tons) x Selling Price per ton kelli horne: kelli horne: Sales (tons) x Selling Price per ton$0 Deduct separable costs0 Net realizable value at splitoff point$0$0$0 Weighting ERROR:#DIV/0!ERROR:#DIV/0!$260,000 Joint costs allocated $0 Special BSpecial STotal PANEL B: Product-Line Income Statement for June 2017 Revenues kelli horne: kelli horne: Sales (tons) x Selling Price per ton$0 Deduct joint costs allocated (from Panel A) Deduct separable costs Gross margin$0$0$0 Gross margin percentageERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! Prob 2 (17) Chapter 17 Summarize the Flow of Physical Units and Compute Output in Equivalent Units; Weighted-Average Method of Process Costing, Learning Tree Corp for October 2017. (Step 2) (Step 1)Equivalent Units PhysicalDirectConversion Flow of ProductionUnitsMaterialsCosts Work in process, beginning (given)20,000 Started during current period (given)40,000 To account for60,000 Completed and transferred out during current period Work in process, ending* (given) 50,000 x100%; 50,000 x 30% Accounted for Equivalent units of work done to date Summarize the Total Costs to Account For, Compute the Cost per Equivalent Unit, and Assign Costs to the Units Completed and Units in Ending Work-in-Process Inventory; Weighted-Average Method of Process Costing for ZanyBrainy Corporation for October 2017. Total ProductionDirectConversion CostsMaterialsCosts (Step 3) Work in process, beginning (given)$28,000$8,000$20,000 Costs added in current period (given)95,00025,00070,000 Total costs to account for$123,000$33,000$90,000 (Step 4) Costs incurred to date$33,000$90,000 Divide by equivalent units of work done to date00 Cost per equivalent unit of work done to dateERROR:#DIV/0!ERROR:#DIV/0! (Step 5) Assignment of costs: Completed and transferred out ERROR:#DIV/0!5,500ERROR:#DIV/0! Work in process, endingERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! Total costs accounted forERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! Prob 3 (18) Chapter 18 1. Panel A, calculates the equivalent units of work done in the current period for each cost category in September 2017. PANEL A: Summarize the Flow of Physical Units and Compute Output in Equivalent Units (Step 1)(Step 2) Equivalent Units PhysicalDirectConversion Flow of ProductionUnitsMaterialsCosts Work in process, beginning (given)1200 Started during current period (given)2,257 To account for3,457 Good units completed and transferred out during current period: Normal spoilage 345 x 100%; 345 x 100% Abnormal spoilage 292 x 100%; 292 x 100% Work in process, ending‡ (given) 520 x 100%; 520 x 20% Accounted for Equivalent units of work done to date PANEL B: Summarize the Total Costs to Account For, Compute the Cost per Equivalent Unit, and Assign Costs to the Units Completed, Spoiled Units, and Units in Ending Work-in-Process Inventory Total ProductionDirectConversion CostsMaterialsCosts (Step 3) Work in process, beginning (given)$158,635$142,321$16,314 Costs added in current period (given)830,654573,278257,376 Total costs to account for$989,289$715,599$273,690 (Step 4) Costs incurred to date$715,599$273,690 Divided by equivalent units of work done to date00 Cost per equivalent unitERROR:#DIV/0!ERROR:#DIV/0! (Step 5) Assignment of costs Good units completed and transferred out Costs before adding normal spoilageERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! Normal spoilage ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! (A) Total cost of good units completed and transferred outERROR:#DIV/0! (B) Abnormal spoilage ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! (C) Work-in-process, ending ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0! (A)+(B)+(C) Total costs accounted forERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!