Sales value at splitoff:
|
Special B/
|
Special S/
|
|
|
beef ramen
|
shrimp ramen
|
Total
|
Sales value of total production at splitoff
|
|
|
|
Weighting
|
|
|
|
Joint costs allocated
|
|
|
|
a. Allocate the joint costs using the sales value at splitoff method. Begin by entering the amounts in the table and allocate the joint costs. (Enter the weighting to two decimal places.)
Sales value at splitoff:
|
Special B/
|
Special S/
|
|
|
beef ramen
|
shrimp ramen
|
Total
|
Sales value of total production at splitoff
|
|
$
|
$0
|
Weighting
|
|
|
|
Joint costs allocated
|
|
|
|
Compute the gross margin percentages using the sales value at splitoff method to allocate the joint costs. (Round the percentages to the nearest whole percent. Use parentheses or a minus sign when entering applicable negative gross margin amounts and percentages.)
|
Special B
|
|
Special S
|
|
Total
|
|
Revenues
|
|
|
|
|
|
|
Joint costs
|
|
|
|
|
|
|
Separable costs
|
|
|
|
|
|
|
Gross margin
|
|
|
|
|
|
|
Gross margin percentage
|
|
%
|
|
%
|
|
%
|
b. Allocate the joint costs using the physical-measure method. Enter the amounts in the table and allocate the joint costs.(Enter the weighting to two decimal places.)
Physical-measure method:
|
Special B/
|
Special S/
|
|
|
beef ramen
|
shrimp ramen
|
Total
|
Physical measure of total production (tons)
|
|
|
|
Weighting
|
|
|
|
Joint costs allocated
|
|
|
|
Compute the gross margin percentages using thephysical-measures method to allocate the joint costs. (Round the percentages to the nearest whole percent. Use parentheses or a minus sign when entering applicable negative gross margin amounts andpercentages.)
|
Special B
|
|
Special S
|
|
Total
|
|
Revenues
|
|
|
$
|
|
$
|
|
Joint costs
|
|
|
|
|
|
|
Separable costs
|
|
|
|
|
|
|
Gross margin
|
|
|
$
|
|
|
|
Gross margin percentage
|
72
|
|
|
|
|
|
c. Allocate the joint costs using the net realizable value method. Enter the amounts in the table and allocate the joint costs. (Enter the weighting to two decimal places.)
Net realizable value (NRV) method:
|
|
|
|
|
Special B
|
Special S
|
Total
|
Net realizable value of total production at splitoff
|
|
|
|
Weighting
|
|
|
|
Joint costs allocated
|
|
|
|
Compute the gross margin percentages using the NRV method to allocate the joint costs. (Round the percentages to the nearest whole percent. Use parentheses or a minus sign when entering applicable negative gross margin amounts andpercentages.)
|
Special B
|
|
Special S
|
|
Total
|
|
Revenues
|
|
|
|
|
|
|
Joint costs
|
|
|
|
|
|
|
Separable costs
|
|
|
|
|
|
|
Gross margin
|
|
|
|
|
|
|
Gross margin percentage
|
|
%
|
|
%
|
|
%
|
Extracted text: Data table В D E 11 Joint Costs Special B Special S Joint costs (costs of noodles, spices, and other 12 inputs and processing to splitoff point) Separable costs of processing 6,000 tons of Beef 13 Ramen into 12,000 tons of Special B 2$ 260,000 48,000 Separable costs of processing 9,000 tons of 14 Shrimp Ramen into 17,000 tons of Special S $ 85,000 Beef Shrimp 15 Ramen Ramen Special B Special S 16 Beginning inventory (tons) 17 Production (tons) 18 Transfer for further processing (tons) o 6,000 9,000 12,000 17,000 6,000 9,000 19 Sales (tons) 12,000 17,000 20 Selling price per ton $ 25 S 45 $ 51 $ 54
Extracted text: Data table A B Joint Costs Joint costs (costs of noodles, spices, and other 2 inputs and processing to splitoff point) 260,000 Вeef Shrimp Ramen Ramen 4 Beginning inventory (tons) 5 Production (tons) 6,000 9,000 6 Sales (tons) 6,000 9,000 7 Selling price per ton 25 S 45