The Brital Company Processes Unprocessed Milk to Produce Two Products

question 1

Multiple Choice

The Brital Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June:
Direct Materials processed:31,000 gallons

The costs of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 31,000 gallons of saleable product was $146,450.
The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Condensed Milk?

• A) $120,000
• B) $14,500
• C) $33,900
• D) $26,450

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Definitions:

Net Margin

A profitability metric calculated as net income divided by revenue, expressing the percentage of revenue that remains as profit after all expenses are deducted.

ISO 9000

A set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements required for maintaining an efficient quality system.

International Marketplace

The global economic environment in which businesses operate, allowing for the exchange of goods and services across national borders.

Quality Objectives

Goals that relate to the consistency and excellence of a product or service, usually defined in a company's quality management system.