The Joplin Company Conducts a Simple Chemical Process in Department

question 68

Essay

The Joplin Company conducts a simple chemical process in Department #1,which produces three separate items: A,K,and H.A is processed further in Department #2.K is processed further in Department #3.Product H is a by-product,to be accounted for by the other revenue method.The following information relates to September:
Department #1's costs $420,000.Department #2's costs $150,000.Department #3's costs $60,000.A: 25,000 pounds completed;23,500 pounds sold for $12 per pound.K: 75,000 pounds completed;70,000 pounds sold for $7.50 per pound.H: 10,000 pounds completed;10,000 pounds sold for $1.50 per pound.(There are shipping costs of $0.30 per pound. )
There were no September 1^st inventories.Required:
Prepare a schedule to show the computation for the unit costs per pound for Products A,K,and H assuming Joplin uses the physical quantities method to allocate joint costs to the main products.

---

Definitions:

Exophthalmos

A condition where the eyes bulge outwards beyond the normal orbital boundaries, commonly associated with thyroid disease.

Hyperthyroid Disease

A condition characterized by the overproduction of thyroid hormones, leading to accelerated metabolism and associated symptoms.

Strabismus

A condition characterized by the misalignment of the eyes, which can lead to double vision or impaired depth perception.

Mobility Issues

Challenges or limitations in moving independently from place to place, often due to injury, disability, or aging.