Top Posters
Since Sunday
g
3
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
ashly138 ashly138
wrote...
Go to Answer
Posts: 686
Rep: 6 0
6 years ago
Blue Paper Company processes wood pulp into two products. During January the joint costs of processing were $144,000. Production and sales value information for the month were as follows:

      Sales Value at
Product   Kilograms Produced    splitoff Point   Separable Costs
Paper   130,000   $80,000   $224,000
Cardboard   108,000   70,000   264,000

Paper sells for $2.75 a kilogram and cardboard sells for $3.50 a kilogram.

There were no beginning inventories for January but ending inventories totalled 10,000 kilograms for paper and 12,000 kilograms for cardboard.

Required:
Prepare a product line income statement in gross margin format. Joint costs are allocated using the net realizable value method assuming all available product is sold.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
Authors:
Read 83 times
1 Reply
Love this site! Slight Smile
Replies
Answer verified by a subject expert
btpsandbtpsand
wrote...
#1
Top Poster
Posts: 1199
Rep: 31 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 220 words.
1

Related Topics

ashly138 Author
wrote...

6 years ago
Thanks
Shuqin
wrote...

Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
kater28
wrote...

2 hours ago
This site is awesome
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1087 People Browsing
 131 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 108
  
 249
  
 402
Your Opinion
Previous poll results: Who will win the 2024 president election?