Alma, Inc Has Joint Process That Produces Five Different Products at at the Split-Off

question 68

Essay

Alma, Inc. has joint process that produces five different products at the split-off point. The joint cost of producing these products is $500. Three of these products are processed further (A, D, and E). Two of these products are not processed further (B and C). Products A, C, and D are main products; Products B and E are by-products.
For product costing purposes, the cost reduction method recognized at the time of production is used for by-product B, and the other income method recognized at the time of sale is used for by-product E (Z).
Product Product After Sales Price Separable Sales Price After
at Split-Off Further Processing at Split-Off Costs Further Processing
A W $200 $120 $400
B -- 50 -- --
C -- 400 -- --
D Y 100 80 320
E Z 10 20 50
a)At what cost will a unit of B be carried in inventory?
b)At what cost will a unit of E be carried in inventory?
c)At what cost will a unit of Z be carried in inventory?
d)How much joint cost will be allocated to product A, if the basis is sales value at split-off point?

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Definitions:

Conjuncts

Elements combined within a conjunction in logic, each of which is true for the whole to be true.

Disjuncts

Components of a disjunction (an "or" statement) that represent alternative statements or clauses, where if one is true, the others do not have to be.

Antecedents

Factors or events that precede and potentially influence the outcome of a subsequent event or condition.

Consequents

The outcomes or results that logically follow from a given condition or premise.