Questions from Cost Accounting

Q: Mack Precision Tool and Die has two production departments, Fabricating and

Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair and Quality Control. Direct costs for each department and the proportion of s...

Q: Lipton Liquids produces three products by a joint production process. Raw

Lipton Liquids produces three products by a joint production process. Raw materials are put into production in Department 1, and at the end of processing in this department, three products appear. Alp...

Q: Troester Manufacturing produces products X, Y, and Z from a

Troester Manufacturing produces products X, Y, and Z from a joint process. Each product can be processed further and sold as X-Prime, Y-Prime, and Z-Prime. Information on the operations for the most r...

Q: Wadsworth Processes manufactures three produces—ABC, DEF, and GHI

Wadsworth Processes manufactures three produces—ABC, DEF, and GHI—from a joint production process. Data on the operations at Wadsworth for the most recent period ar...

Q: Terry Chemicals processes a single raw material, Clean-Z,

Terry Chemicals processes a single raw material, Clean-Z, in Department 1 of its main production facility. Out of the joint process in Department 1, two products emerge: Azyne and Bethanol. Azyne is f...

Q: Goldsmith Processors produces two joint products from a special type of ore

Goldsmith Processors produces two joint products from a special type of ore. Product X-1 sells for $8 per unit at the split-off point. After an additional $90,000 of processing costs are incurred, pro...

Q: Longwood Corporation processes a liquid into three outputs: K-2

Longwood Corporation processes a liquid into three outputs: K-2, K-4, and K-5. The sales value of each of these products for a single batch follows: The joint costs total $850,000. There are no separa...

Q: Elsa Products processes Chem-Z into two products: Chem-

Elsa Products processes Chem-Z into two products: Chem-A and Chem-B. Chem-Z costs $42,000 per batch. The joint process produces 11,250 units of Chem-A with a market value of $135,000, and 20,000 units...

Q: Hendricks Mining & Manufacturing is a global mineral resource company. At

Hendricks Mining & Manufacturing is a global mineral resource company. At its Taylor site, the company mines and processes three grades of metal—IA, IB, and II—in fixed proportions. The joint costs of...

Q: Bromley Custom Cabinetry (BCC) uses a job costing system and

Bromley Custom Cabinetry (BCC) uses a job costing system and applies overhead based on direct materials cost. Last year, manufacturing overhead was expected to be $693,000 and direct materials cost wa...