Jim Davis Company Processes Hogs into Three Products,chops,bacon and Sausage

question 57

Essay

Jim Davis Company processes hogs into three products,chops,bacon and sausage.Production and selling price data follow: Hogs are processed in the Processing Department.From the split-off point,bacon is smoked,sliced and packaged in the Bacon Department.The cost incurred for these processes was $100,000.In addition,sausage was ground and formed into patties in the Sausage Department after the split-off.This process cost $60,000.
Required:
a)If joint processing costs were $1,500,000,calculate the total cost of each product using the adjusted sales value method.
b)Prepare the journal entries to 1)record the joint processing and movement of product out of the Processing Department after the split off,and 2)record the additional processing and completion of the bacon and sausage.

Understand the concept of ethical decision-making and its significance in the workplace.

Recognize the impact of personal character and corporate culture on ethical behavior.

Identify ethical dilemmas in various business contexts and appropriate responses to them.

Learn about mechanisms and tools that facilitate ethical behavior in organizations, such as ethics training programs and ethics hotlines.

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Definitions:

Chartjunk

Unnecessary or distracting visual elements in charts and graphs that do not enhance understanding of the data and may in fact obscure it.

Decorative Elements

Features added to enhance the aesthetic appeal of an object, space, or document without contributing to its functionality.

Documents

Written, printed, or electronic records that provide information or evidence about something.

Visual Evolution

The process of change and development in visual elements, such as design, art, or media, over time.