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    Quiz 11 Joint Product and by Product

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    lena cpa
    This document provides information for a quiz on joint product and by-product costing for BSA Company. BSA manufactures joint products Tat, Su, and Lok, and by-products Kan and To from a total joint manufacturing cost of P100,000. Information is provided on units produced and sold, split-off market values, further processing costs, selling and administrative expenses, and final market values for each product. Students are asked to prepare income statements and determine unit costs using both the net realizable value and reversal cost methods of allocating joint costs to the by-products. Honesty is emphasized as the best policy for the quiz.

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    Quiz 11 Joint Product and by Product

    Uploaded by

    lena cpa
    88 views1 page
    This document provides information for a quiz on joint product and by-product costing for BSA Company. BSA manufactures joint products Tat, Su, and Lok, and by-products Kan and To from a total joint manufacturing cost of P100,000. Information is provided on units produced and sold, split-off market values, further processing costs, selling and administrative expenses, and final market values for each product. Students are asked to prepare income statements and determine unit costs using both the net realizable value and reversal cost methods of allocating joint costs to the by-products. Honesty is emphasized as the best policy for the quiz.

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    This document provides information for a quiz on joint product and by-product costing for BSA Company. BSA manufactures joint products Tat, Su, and Lok, and by-products Kan and To from a total joint manufacturing cost of P100,000. Information is provided on units produced and sold, split-off market values, further processing costs, selling and administrative expenses, and final market values for each product. Students are asked to prepare income statements and determine unit costs using both the net realizable value and reversal cost methods of allocating joint costs to the by-products. Honesty is emphasized as the best policy for the quiz.

    Copyright:

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

    Quiz 11 Joint Product and by Product

    Uploaded by

    lena cpa
    This document provides information for a quiz on joint product and by-product costing for BSA Company. BSA manufactures joint products Tat, Su, and Lok, and by-products Kan and To from a total joint manufacturing cost of P100,000. Information is provided on units produced and sold, split-off market values, further processing costs, selling and administrative expenses, and final market values for each product. Students are asked to prepare income statements and determine unit costs using both the net realizable value and reversal cost methods of allocating joint costs to the by-products. Honesty is emphasized as the best policy for the quiz.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Republic of the Philippines

    BULACAN STATE UNIVERSITY


    COLLEGE OF BUSINESS ADMINISTRATION
    City of Malolos, Bulacan
    Telephone Number : 7964131 or 919-7800 loc 1058, 1057
    Webpage: www.bulsu.edu.ph

    Cost Accounting
    Quiz 11 Joint Product and By-Product

    Name______________________________________________ BSA/BSAT ____ May ____, 2019

    Only black and/or blue ink ballpen are allowed to use. Use of pencils, friction pens and
    correction tape/liquid are not allowed.

    BSA Company, a manufacturing entity, manufactures joint products Tat, Su, and Lok, and by-
    products Kan and To. Joint costs are assigned to the joint products using the net realizable value
    (considering final market value after deducting further processing costs and selling and administrative
    expenses). Total joint manufacturing cost was P100,000 during April, 2019. Other information are as
    follows:

    Tat Su Lok BP-Kan BP-To


    Units Produced 13,000 9,000 8,000 2,000 1,000
    Units Sold 10,000 7,000 7,000 2,000 1,000
    MV at Split-Off Php 6.00 Php 12.00 Php 20.00 Php 1.75 Php 1.50
    Further
    Processing
    Cost per unit Php 8.00 Php 7.00 Php 5.00 Php 0.50 Php 0.60
    Selling &
    administrative
    expense per Php 5.00 Php 4.00 Php 3.00 Php 0.50 Php 0.60
    unit
    Final
    Market Value Php 20.00 Php 25.00 Php 30.00 P3.00 Php 4.00
    Desired Profit Php 2,000 Php 2,300

    Required:

    1. Using the net realizable value in allocating joint cost to the by-products,
    a. prepare a detailed income statement showing the net profit per product. (10 points)
    b. determine the unit costs of main products and by-products (5 points)

    2. Using the reversal cost method in allocating joint cost to the by-products,
    a. prepare a detailed income statement showing the net profit per product. (10 points)
    b. determine the unit costs of main products and by-products (5 points)

    End of the Quiz. Good Luck! Reminder: Honesty is the best policy!

    Page 1 of 1

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