Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. farm grown chicken grows and processes chickens. e

Farm Grown Chicken grows and processes chickens. Each chicken is disassembled into...

50.1K

Verified Solution

Question

Accounting

Farm Grown Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 20202020follows:
A special shipment of 5050 pounds of breasts and 1515 pounds of wings has been destroyed in a fire. Farm GrownFarm Grown Chicken's insurance policy provides reimbursement for the cost of the items destroyed. The insurance company permits Farm GrownFarm Grown Chicken to use a joint-cost-allocation method. The splitoff point is assumed to be at the end of the produParts
Pounds of Product
Wholesale Selling Price per Pound When Production is Complete
Breasts
120
$0.60
Wings
45
0.15
Thighs
30
0.35
Bones
90
0.05
Feathers
15
0.05ction process.
1.
Compute the cost of the special shipment destroyed using the following:
a.
Sales value at splitoff method
b.
Physical-measure method(pounds of finished product)
2.
What joint-cost-allocation method would you recommend Farm GrownFarm Grown Chicken use? Explain.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Majesty Video Production Inc. wants the mean length of its advertisements to be 24 seconds. Assume...

Statistics
Q

Biochemistry \"Thr-91 of Complex I is conserved through evolution. It is crucial for the functioning of Complex...

Biology
Q

Based on your knowledge of metabolism, describe why eating a fat free but high calorie diet...

Medical Sciences
Q

Health Econ Question: How do hospitals and physicians contribute to the rising costs of health care?

Economics
Q

Amanda needs to buy some pencils. Brand A has a pack of 36 pencils for...

Basic Math
Q

Adjusting entries are designed primarily to correct errors made by bookkeepers. True False

Accounting
Q

The current assets and current liabilities sections of the balance sheet of Nash Company appear...

Accounting
Q

Create a one-year budget using a personal budget (if personal you don't need to reveal...

Accounting
Q

Taxpayer information: . Last year, Mike Ross who is married to Rachel Zane (born 30...

Accounting
Q

The ability to arbitrage the differences between international tax systems is a very important aspect...

Accounting
Q

Question 1640 marks) The CEO of Netfly Company Limited. Mr Chathastread an article that was...

Finance
Q

The amount of driver activity corresponding to each product line is as follows: Select the...

Accounting