Figure 6-11 Information about three joint products follows: \(\begin{array}{lccc} &\text {X}&\text {Y}&\text {Z}\\ \text { Anticipated production } & 12,000 \mathrm{kgs} . & 8,000 \mathrm{kgs} . & 7,000 \mathrm{kgs} . \\ \text { Selling price } / \mathrm{kg} . \text { at split-off }& £ 16 & £ 26 & £ 48 \\ \text { Additional processing costs } / \mathrm{kg} . \\ \text { after split-off (all variable) } & £ 8 & £ 20 & £ 20\\ \text { Selling price } / \mathrm{kg} . \text { after further } \\ \text { processing }&£20&£40&£70 \\ \end{array}\) The cost of the joint process is £140,000. -Refer to Figure 6-11. Which of the joint products should be processed further?

A) X B) Y C) Z D) both X and Y A) X B) Y C) Z D) both X and Y

Figure 6-1 Gilbert Production Company incurred £150,000 to manufacture the following products in a joint process: \(\begin{array}{lrlr}&&&\text { Selling Price }\\\text { Product }&\text { Units Produced }&\text { Weight per Unit }&\text { per Unit }\\ \text { A } & 250 & 4 \mathrm{kgs} . & £ 20 \\ \mathrm{~B} & 500 & 3 \mathrm{kgs} . & 40 \\ \mathrm{C} & 750 & 2 \mathrm{kgs} . & 40 \\ \mathrm{D} & 1,000 & 1 \mathrm{kgs} . & 20 \end{array}\) -Refer to Figure 6-1. How much joint cost would be allocated to product A based on total weight?

A) £150,000 B) £20,000 C) £30,000 D) £50,000 A) £150,000 B) £20,000 C) £30,000 D) £50,000

Figure 6-7 Suppose that a concrete manufacturer produces four grades of concrete totaling 500,000 cubic yards as follows at a joint cost of £2,000,000: \[\begin{array} { c c c } \text { Grade } & \text { Cubic Yards } & \text { Sales Value } \\ \text { A } & 75,000 & £ 375,000 \\ \text { B } & 200,000 & 1,200,000 \\ \text { C } & 100,000 & 700,000 \\ \text { D } & 125,000 & 850,000 \end{array}\] -Refer to Figure 6-7. What amount of joint costs will be allocated to Grade B using the final sales value method?

A) £2,000,000 B) £768,000 C) £800,000 D) £240,000 A) £2,000,000 B) £768,000 C) £800,000 D) £240,000

Exam 6: Joint and By-Product Costing

Figure 6-11 Information about three joint products follows: X Y Z Anticipated production 12,000. 8,000. 7,000. Selling price /. at split-off £16 £26 £48 Additional processing costs /. after split-off (all variable) £8 £20 £20 Selling price /. after further processing £20 £40 £70 The cost of the joint process is £140,000. -Refer to Figure 6-11. Which of the joint products should be processed further?

(Multiple Choice)

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Question 61

Figure 6-4 Deli Products produces two products, X and Y, in a single process. In 2011, the joint costs of this process were £25,000. In addition, 4,000 units of X and 6,000 units of Y were produced. Separable processing costs beyond the split-off point were: X-£10,000; Y-£20,000. X sells for £10.00 per unit; Y sells for £7.50 per unit. -Refer to Figure 6-4. What amount of joint costs will be allocated to product X using the estimated net realizable value method?

(Multiple Choice)

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Question 62

Figure 6-1 Gilbert Production Company incurred £150,000 to manufacture the following products in a joint process: Selling Price Product Units Produced Weight per Unit per Unit A 250 4. £20 500 3. 40 750 2. 40 1,000 1. 20 -Refer to Figure 6-1. How much joint cost would be allocated to product A based on total weight?

(Multiple Choice)

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Question 63

Figure 6-7 Suppose that a concrete manufacturer produces four grades of concrete totaling 500,000 cubic yards as follows at a joint cost of £2,000,000: Grade Cubic Yards Sales Value A 75,000 £375,000 B 200,000 1,200,000 C 100,000 700,000 D 125,000 850,000 -Refer to Figure 6-7. What amount of joint costs will be allocated to Grade B using the final sales value method?

(Multiple Choice)

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Question 64

The decision of whether or NOT to process joint products beyond their split-off point is

(Multiple Choice)

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Question 65

The decision of whether or NOT to process joint products beyond their split-off point is

Introduction to Management Accounting

An Introduction to Cost Terms and Concepts

Cost Assignment

Accounting Entries for a Job Costing System

Process Costing

Income Effects of Alternative Cost Accumulation Systems

Cost-Volume-Profit Analysis

Measuring Relevant Costs and Revenues for Decision-Making

Activity-Based Costing

Activity-Based Costing

Decision-Making Under Conditions of Risk and Uncertainty

Capital Investment Decisions: Appraisal Methods

Capital Investment Decisions: the Impact of Capital Rationing, Taxation, Inflation and Risk

The Budgeting Process

Management Control Systems

Standard Costing and Variance Analysis 1

Standard Costing and Variance Analysis 2: Further Aspects

Divisional Financial Performance Measures

Transfer Pricing in Divisionalized Companies

Strategic Cost Management

Strategic Performance Management

Cost Estimation and Cost Behaviour

Quantitative Models for the Planning and Control of Inventories

The Application of Linear Programming to Management Accounting

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