Professional Documents
Culture Documents
TRUE OR FALSE
1. T
2. T
3. F
4. F
5. T
6. T
7. F
8. F
9. T
10. T
11. T
12. F
13. F
14. T
15. F
16. T
17. F
18. T
19. T
20. T
21. F
22. T
23. T
24. T
25. T
26. T
27. F
28. F
29. T
30. T
31. T
32. F
33. T
34. F
35. F
36. F
37. F
38. T
39. T
40. F
41. F
42. F
43. F
44. F
Multiple Choice
1. B
2. C
3. C
4. C
5. B
6. C
7. D
8. D
9. C
10. B
11. C
12. C
13. C
14. A/C/
15. A
16. C
17. D
18. D
19. B
20. B
21. D/B
22. C
23. C
24. D
25. A
26. C
27. D
28. A
29. B
30. A/B
31. A/C/A
32. B
33. B
34. B
35. D
36. D
37. D/A
38. C/A/B/A
39. B
40. C/C
41. D
42. C
43. C
44. B/B/D
45. B
46. D
47. A
48. A/C
49. A
50. B/B/A
Straight Problems
Problem 1
1. M 400,000 + CC 600,000 = 1,000,000
2. a.
Units JC
O 32,000 80% 800,000
P 8,000 20% 200,000
40,000 1,000,000
2.b.
Units SP at split-off point SV at SO JC
O 32,000 35 1,120,000 70% 700,000
P 8,000 60 480,000 30% 300,000
40,000 1,600,000 1,000,000
2.c.
Separable
Units FSP per unit cost per unit NRV Per unit Total NRV JC
O 32,000 45 7.50 37.50 1,200,000 62.5% 625,000
P 8,000 100 10 90.00 720,000 37.5% 375,000
1,920,000 1,000,000
Problem 2
Answer
1.
Product Units Produced Ave. Unit Cost Joint Cost
A 20,000 6.00 120,000
B 32,000 6.00 192,000
C 36,000 6.00 216,000
D 24,000 6.00 144,000
112,000 672,000
2.
3.
Cost per Weight Total Joint
Product Units Produced Weight Factors Factor Cost
A 20,000 9 180,000 180/1680 72,000
B 32,000 16.5 528,000 528/1680 211,200
C 36,000 15 540,000 540/1680 216,000
D 24,000 18 432,000 432/1680 172,800
1,680,000 672,000
Problem 3
Answer
1. 720,000 + 300,00 + 1,380,000 = P2,400,000
2. 80,000 / 320,000 units x 2,400,000 = P600,000
3. X: 80,000 x P15 = 1,200,000; Y: 240,000 x P20 = 4,800,000. Y 4,800,000/6,000,000 x 2,400,000 =
P1,920,000
Problem 4
Total
units
Seperable Seperable Unit
produced
FSP costs NRV/unit Total NRV JC cost TMC Cost
Problem 5
Answer
1. Actual NRV
Actual NRV JC
33,000 41% 6,188
47,000 59% 8,813
80,000 15,000
2. Approximated NRV
SV at Split-off Cost Beyond Split-off Actual NRV JC
Y 33,000 9,000 24,000 40% 6,000
Z 47,000 11,000 36,000 60% 9,000
60,000 15,000
Problem 6
Answer
1.
Units JC
K 12,000 12% 19,200
L 28,000 28% 44,800
M 60,000 60% 96,000
100,000 160,000
2.
SV at SO JC
K 208,000 40% 64,000
L 119,600 23.0% 36,800
M 192,400 37.0% 59,200
520,000 160,000
Problem 7
Answer
1.
Separable
Units FSP per unit Final SP Cost NRV JC
C 8,000 38 304,000 54,000 250,000 62.5% 275,000
D 4,000 50 200,000 50,000 150,000 37.5% 165,000
400,000 440,000
2. No. the company is losing P40,000: NRV 400,000 – JC 440,000 = 40,000 loss
3. The 500,000 JC is allocated all to product A since product A has positive NRV 700,000 ((20,000 x P40)
– 100,000) and product B is has zero NRV.
Problem 8
Answer
JC 2,900,000 - 380,000 (MV 500,000 – FPC 120,000) =2,520,000
JC 2,900,000 - 380,000 (MV 500,000 -
=2,520,000
Problem 9
Answer
1.
Materials Costs 48,000
Labor 16,000
Factory Overhead 40,000
104,000
2.
Sales Value at Split-
Units off Total SV at SO JC Unit Cost
A 8,000 P22 176,000 44.00% 45,760 5.72
B 6,000 P20 120,000 30.00% 31,200 5.20
C 2,000 P52 104,000 26.00% 27,040 13.52
400,000 104,000
3. JC 104,000 – By-product 8,000 = 96,000 to be allocated to joint products
Sales Value at
Units Split-off Total SV at SO JC Unit Cost
A 8,000 P22 176,000 44.00% 42,240 5.28
B 6,000 P20 120,000 30.00% 28,800 4.80
C 2,000 P52 104,000 26.00% 24,960 12.48
400,000 96,000
Problem 10
Answer
Uno: As is P200,000; Process: FSP 240,000 – FPC 50,000 = 190,000
Dos: As is P300,000: Process: FSP 360,000 – FPC 60,000 = 300,000
Tres: As is P 500,000, Process: FPC 640,000 – FPC 100,000 = 540,000
Sales
Uno 200,000 as is
DOS 300,000 as is
Tres 540,000 PF
1,040,000
JC 500,000
Gross Profit 540,000
Problem 11
Answer
X Y A
Sales 1,250,000 800,000 30,000
COGS
JOINT COST 500,000 350,000 10,000
5,000
Futher processing cost 250,000 100,000
Gross Profit 500,000 350,000 15,000
Disposal Cost - - 10,000
Net Income 500,000 350,000 5,000
NRV JC
X 1,000,000 59% 500,000
Y 700,000 41% 350,000
1,700,000 850,000
AB C D TOTAL
Sales 800,000 90,000 55,000 945,000
COGS
JOINT COST 188,500 39,000 22,500 250,000
28,500 361,500
Further processing cost 311,500 21,500
Less: Ending Inventory 100,000 100,000
Gross Profit
Disposal Cost 160,000 12,500 5,000 177,500
Net Income 240,000 10,000 6,000 256,000
Problem 13
Answer
1.
X Y
Sales 30,000 17,500
Futher Processing cost 5,500 4,500
Disposal Cost 3,750 2,500
Profit 4,500 2,100
Joint Cost 16,250 8,400
2.
A X Y Total
Sales 375,000 30,000 17,500 422,500
COGS
Further Processing cost 57,500 5,500 4,500 67,500
Joint cost 162,850 16,250 8,400 187,500
GP 154,650 8,250 4,600 167,500
Disposal Cost 30,000 3,750 2,500 36,250
Net Income 124,650 4,500 2,100 131,250
Problem 14
Answer
1.
Selling Price (MP) 50 x 60,000 3,000,000
COGS 30 x 60,000 1,800,000
Gross Profit 1,200,000
2.
Selling Price (MP) 50 x 60,000 3,000,000
Other Revenue - Byproduct 30,000 (8,000 x 3.75)
Total Revenue 3,030,000
COGS (MP) 1,800,000
Gross Profit 1,230,000
3.
Selling Price (MP) 50 x 60,000 3,000,000
COGS MP 1,800,000
Less Byproduct 30,000 1,770,000
Gross Profit 1,230,000
Less: Selling and Admin 1,000,000
230,000
4.
SP 3,000,000
Less COGS
Total Manufacturing Cost 3,000,000
Less: By-product 30,000
Total Manufacturing cost (MP) 2,970,000 60/100 1,782,000
GP 1,218,000
Less: Selling and Admin 1,000,000
Net Income 218,000