SUNY Empire State College Rich and Creamy Edibles Factory Worksheet From the text Horngren’s Cost Accounting 16th edition, exercises 17-21 and 17-38 are at

SUNY Empire State College Rich and Creamy Edibles Factory Worksheet From the text Horngren’s Cost Accounting 16th edition, exercises 17-21 and 17-38 are attached. Excel file also attached to be used for completing the questions. Need to show work and answer all parts of each quesition from the information provided Rich and Creamy Edibles Factory
Production (lbs)
Chocolate Powder
Milk Chocolate
31.280
50.600
600 lbs of beans:
Sales (lbs)
27.600
Selling Price
(per lb)
6.800
14.400
$8
$9
20
60
Chocolate Powder =
=
=
Milk Chocolate =
=
=
gallons chocolate-powder liquor:
gallons milk-chocolate liquor base:
((27,600/600)*20)
920
pounds @ splitoff
$19.320
sales value
((27,600/600)*60)*28
2.760
pounds @ splitoff
$77.280
sales value
96.600 = total cost @ splitoff
20% = % sales value choc. Pwdr
80% = % sales value milk choc.
1. a.
3.680
25%
75%
Joint costs @ Sales value at splitoff:
Chocolate powder =
Milk chocolate =
2. Gross profit % = (sales – joint cost – separable cost)/sales
Chocolate powder =
Milk chocolate =
b.
Joint Costs @ Physical measure:
Chocolate powder =
Milk chocolate =
2. Gross profit % = (sales – joint cost – separable cost)/sales
Chocolate powder =
Milk chocolate =
c.
Joint Costs @ NRV:
Chocolate powder =
Milk chocolate =
2. Gross profit % = (sales – joint cost – separable cost)/sales
Chocolate powder =
Milk chocolate =
d.
Joint Costs @ Constant gross margin % NRV:
Gross profit % = (sales – joint cost – separable cost)/sales
= 75,75%
Chocolate powder =
Milk chocolate =
3. Rich and Creamy Edibles Factory would increase profit by fully processing both of its intermediate products
Final sales value
sales value @ splitoff
increase sales value
Separable costs
Increase (decrease) profit
Choc. Powder
$54.400
$19.320
$35.080
$10.008
$25.072
Milk Pwdr
$129.600
$77.280
$52.320
$15.676
$36.644
lbs cocoa beans processed
Sales value
$250.240
$455.400
allons chocolate-powder liquor:
allons milk-chocolate liquor base:
Cost to splitoff: $70.000
Separable
NRV
Processing Costs
$46.035
$55.085
$204.205
$400.315
680 lbs chocolate powder
1100 lbs milk chocolate
ounds @ splitoff
ounds @ splitoff
= total pounds @ splitoff
= % sales value Choc. Pwdr
= % sales value Milk Choc.
$14.000
$56.000
ales – joint cost – separable cost)/sales
76,01%
75,54%
$17.500
$52.500
ales – joint cost – separable cost)/sales
74,61%
76,38%
$23.646
$46.354
ales – joint cost – separable cost)/sales
72,15%
77,73%
ales – joint cost – separable cost)/sales
$604.520 = total NRV
34% = % sales value Choc. Pwdr
66% = % sales value Milk Choc.
$14.649,02
$55.350,98
ssing both of its intermediate products
Total
$184.000
$96.600
$87.400
$25.684
$61.716

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