Question : 11) What the total sales value at the splitoff point : 1211877

11) What is the total sales value at the splitoff point of the pencil casings?

A) $21,600

B) $27,000

C) $26,775

D) $20,880

12) What are the paper’s and the pencil’s approximate weighted cost proportions using the sales value at

splitoff method, respectively?

A) 50.00% and 50.00%

B) 33.33% and 66.67%

C) 31.82% and 68.18%

D) 44.44% and 55.56%

13) If the sales value at splitoff method is used, what are the approximate joint costs assigned to ending inventory for paper?

A) $185.17

B) $57.87

C) $175.38

D) $57.78

14) If the sales value at splitoff method is used, what is the approximate production cost for each pencil

casing?

A) $0.309

B) $0.301

C) $0.031

D) $0.039

15) If the sales value at splitoff method is used, what is the approximate production cost for each paper sheet?

A) $0.309

B) $0.301

C) $0.031

D) $0.039

Answer the following questions using the information below:

The Berkel Corporation manufactures Widgets, Gizmos, and Turnbols from a joint process. June production is 5,000 widgets; 8,750 gizmos; and 10,000 turnbols. Respective per unit selling prices at splitoff are $75, $50, and $25. Joint costs up to the splitoff point are $187,500.

16) If joint costs are allocated based upon the sales value at splitoff, what amount of joint costs will be allocated to the widgets?

A) $30,882

B) $66,176

C) $44,118 

D) $77,206

17) What amount of joint costs will be allocated to the Turnbols?

A) $44,118

B) $30,882

C) $77,206

D) $66,176

18) What amount of joint costs will be allocated to the Gizmos?

A) $44,118

B) $30,882

C) $77,206

D) $66,176

19) A reason why a physical-measure to allocate joint costs is less preferred than the sales value at splitoff is because ________.

A) a physical measure such as volume is difficult to estimate than sales value

B) physical volume usually has little relationship to the revenue producing power of products

C) a physical measure usually results in less costs being allocated to the product that weighs the most

D) customers will easily understand that the products are overpriced

Answer the following questions using the information below:

The Alfarm Corporation processes raw milk up to the splitoff point where two products, cream and liquid skim, are produced and sold. There was no beginning inventory. The following material was collected for the month of February:

        Direct materials processed:750,000 gallons (727,500 gallons of good product)

       Production:Cream442,500 gallons

Liquid skim285,000 gallons

       Sales:Cream421,500 at $110 per gallon

Liquid skim273,000 at $100 per gallon

The cost of purchasing 750,000 gallons of direct materials and processing it up to the splitoff point to yield a total of 727,500 gallons of good product was $2,280,000.

20) What are the physical-volume proportions to allocate joint costs for cream and liquid skim, respectively?

A) 59.00% and 41.00%

B) 60.82% and 39.18%

C) 50.00% and 50.00%

D) 59.79% and 40.21%