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    Assignment FINALS

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    hae1234
    The document contains information about three different companies: 1) Tomasa Inc. produces three joint products and had total joint costs of P60,000. Product X's allocated costs are P30,000 based on the physical measure allocation method. 2) Korina Company produces two joint products from a joint process. Using the relative sales value at split off approach, P30,000 of the total joint costs were allocated to Product S. The total joint costs were P60,000. 3) Hope Manufacturing's Department II produced a total of 15,000 equivalent units in May 2008 under the average method of production costing.

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    Assignment FINALS

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    hae1234
    56 views1 page
    The document contains information about three different companies: 1) Tomasa Inc. produces three joint products and had total joint costs of P60,000. Product X's allocated costs are P30,000 based on the physical measure allocation method. 2) Korina Company produces two joint products from a joint process. Using the relative sales value at split off approach, P30,000 of the total joint costs were allocated to Product S. The total joint costs were P60,000. 3) Hope Manufacturing's Department II produced a total of 15,000 equivalent units in May 2008 under the average method of production costing.

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    The document contains information about three different companies: 1) Tomasa Inc. produces three joint products and had total joint costs of P60,000. Product X's allocated costs are P30,000 based on the physical measure allocation method. 2) Korina Company produces two joint products from a joint process. Using the relative sales value at split off approach, P30,000 of the total joint costs were allocated to Product S. The total joint costs were P60,000. 3) Hope Manufacturing's Department II produced a total of 15,000 equivalent units in May 2008 under the average method of production costing.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    56 views1 page

    Assignment FINALS

    Uploaded by

    hae1234
    The document contains information about three different companies: 1) Tomasa Inc. produces three joint products and had total joint costs of P60,000. Product X's allocated costs are P30,000 based on the physical measure allocation method. 2) Korina Company produces two joint products from a joint process. Using the relative sales value at split off approach, P30,000 of the total joint costs were allocated to Product S. The total joint costs were P60,000. 3) Hope Manufacturing's Department II produced a total of 15,000 equivalent units in May 2008 under the average method of production costing.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 1

    1. Tomasa Inc. manufactures products X, Y and Z from a joint process. Joint product costs were P60, 000.

    Additional information is as follows:

    Sales Value and Additional


    Costs if processed further
    Products Units Produced Final Sales Values Additional Costs
    X 6,000 P49,000 P9,000
    Y 4,000 42,000 7,000
    Z 2,000 30,000 5,000

    What is the total costs allocated to product X?


    Physical Measure Relative Sales Volume
    a. P30,000 P28,000
    b. P29,000 P27,000
    c. P30,000 P21,000
    d. P39,000 P33,000

    2. Korina Company manufactures product S and T from a joint process. The sales value at split off was
    P50,000 for 6,000 units of Products S and P25,000 for 2,000 units of Product T. assuming that the
    portion of the total joint costs properly allocated to Product S using the relative sales value at split off
    approach was P30,000, what were the total joint costs?
    a. P40,000
    b. P42,500
    c. P45,000
    d. P60,000

    3. Department II of Hope Manufacturing Company presents the following production data


    for the month of May, 2008:
    Opening inventory 3/8 completed 4000 units
    Started in process 13,000 units
    Transferred 9,000 units
    Closing Inventory ½ completed 4,000 units
    ¾ completed 4,000 units
    What are the equivalent units of production for the month of May, 2008.

    FIFO AVERAGE
    a. 12,500 units 13,000 units
    b. 17,000 units 12,500 units
    c. 12,500 units 14,000 units
    d. 15,000 units 14,000 units

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