Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lauramo corporation purchases trees from a lumbery

LauraMo Corporation purchases trees from a lumberyard and processes them up to the split-off point...

60.1K

Verified Solution

Question

Accounting

LauraMo Corporation purchases trees from a lumberyard and processes them up to the split-off point where two products (paper and pencil casings) emerge from the process. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of June 2021:

Trees processed: 316 trees

Production: paper 197,225 sheets

pencil casings 197,225

Sales: paper 168,650 at $0.1 per page

pencil casings 172,290 at $0.16 per casing

The cost of purchasing 316 trees and processing them up to the split-off point to yield 197,225 sheets of paper and 197,225 pencil casings is $14,735. The sale values per page and per casing are also the sale values at split-off. LauraMo's accounting department reported no beginning inventory.

If the sales value at split-off method is used, what are the approximate joint costs assigned to ending inventory for paper? (Round the final answer to the nearest cent, i.e., to two decimal places.)

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

How do you go about generating initial ideas for pieces you’re composing, as well as the...

Psychology
Q

1- critical value approach of hypothesis testing. Give an example.

Basic Math
Q

Consider the following quadratic function.g(x)=2x-16x+37(a) Write the equation in the form g (x)= a (x-h)+k....

Basic Math
Q

For the given functions f and g, find the requested function and state its domain.f(x)...

Basic Math
Q

43 u 9i 2j 4k v 4j 4k Answer a 0 3 3 b 9...

Calculus
Q

Test the series for convergence or divergence Part 1 Divergence Test Evaluate the limit lim...

Calculus
Q

On January 1, 2021, Packard Corporation leased equipment to Hewlitt Company. The lease...

Accounting
Q

Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following...

Accounting
Q

To qualify for the fuel refueling property credit, which of the following requirements are true,...

Accounting
Q

The independent cases are listed below includes all balance sheet accounts related to operating activities:...

Accounting
Q

distribution of the Corporation's assets in the event of a liquidation or dissolution. Required Complete...

Accounting
Q

Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation. Calculate the...

Accounting