80.2K

Verified Solution

Link Copied!

Required information Chapter 11: Applying Excel: Excel Worksheet (Part 1 of 2) (Algo) Step t Download the Applying Excel form located on the left-hand side, under files. If you have trouble, the file is also located in D2L under Course Files and Resources Step 2: Verify that your worksheet matches the Review Problem in the text. Then enter formules in all cells that contain question marks. For example, in cell C26 enter the formula 85 Step 3: Check your worksheet by changing the cost of further processing undyed coarso wool in cell B12 to $30,000. The overall financial advantage (disadvantage) from processing all intermediate products into final products should now be $150,000 and the financial advantage (disadvantage) from further processing undyed coarse wool should now be $10,000 If you do not get these answers, find the errors in your worksheet, and correct them. Step 4: Proceed to the requirements below only after completing your worksheet as it will be used to answer the following questions 2. In Industries that process joint products, the costs of the raw materials inputs and the sales values of intermediate and final products ore often volatile. Change the data area of your worksheet to match the following: $ $ 193,000 40,000 1 Chapter 11: Applying Excel 2 3 Data 4 Exhibit 11.7 Santa Maria Wool Cooperative 5 Cost of wool 6 Cost of separation process 7 Sales value of intermediate products at uplit-off point 8 Undyed course wool 9 Undyed fine wool 10 Undyed superfine wool u Costs of further processing (dyeing) intermediate products 12 Undyed core wool 13 Undyed fine wool 14 Undyed supertino wool 15 Sales value of and products 16 Dyed coarse wool 17 Dyed fine wool Dyed supertino wool 18 $ 5 $ 136,000 177,000 74,000 $ $ 50.000 60,000 10,000 $ $ 166,000 $ 219,000 94,000 If your formulas are correct, you should get the correct answers to the following questions. a. What is the overall profit if all intermediate products are processed into final products? Answer is complete but not entirely correct. Overall profit from processing all intermediate products $ 130,000 b. What is the financial advantage (disadvantage) from further processing? Answer is complete but not entirely correct. Financial (disadvantage) Financial advantage Financial advantage from further processing undyed corso wool from further processing undyed fine wool from further processing undyed superfine wool $ (10,000) $ 30,000 20,000 IS 01. With these new costs and selling prices, what recommendations would you make concerning the company's operations? Answer is complete but not entirely correct. Sell as is or process further the intermediate product undyed coarse wool? Sell as is or process further the intermediate product undyed fine wool? Sell as is or process further the intermediate product undyed superfine wool? Sell as is Process further Process further X c-1. With these new costs and selling prices, what recommendations would you make concerning the company Answer is complete but not entirely correct. Sell as is Sell as is or process further the intermediate product undyed coarse wool? Sell as is or process further the intermediate product undyed fine wool? Sell as is or process further the intermediate product undyed superfine wool? X Process further Process further c-2. If your recommendation in part (C-1) is followed, what would be the company's overall profit? Answer is complete but not entirely correct. Overall profit from folowing the plan in part (0) $ 140,000 B $200,000 $40,000 A 1 Chapter 11: Applying Excel 2 3 Data 4 Exhibit 11-7 Santa Maria Wool Cooperative 5 Cost of wool 6 Cost of separation process 7 Sales value of intermediate products at split-off point: 8 Undyed coarse wool 9 Undyed fine wool 10 Undyed superfine wool 11 Costs of further processing (dyeing) intermediate products: 12 Undyed coarse wool 13 Undyed fine wool 14 Undyed superfine wool 15 Sales value of end products: 16 Dyed coarse wool 17 Dyed fine wool 18 Dyed superfine wool $120,000 $150,000 $60,000 $50,000 $60,000 $10,000 $160,000 $240,000 $90,000 19 ? ? ? ? 20 Enter a formula into each of the cells marked with a ? below 21 Example: Joint Product Costs and the Contribution Approach 22 23 Analysis of the profitability of the overall operation: 24 Combined final sales value 25 Less costs of producing the end products: 26 Cost of wool 27 Cost of separation process 28 Combined costs of dyeing 29 Profit 30 31 Analysis of sell or process further: 32 33 34 Final sales value after further processing 35 Less sales value at the split-off point 36 Incremental revenue from further processing 37 Less cost of further processing (dyeing) 38 Financial advantage (disadvantage) of further processing ? ? Fine Wool Coarse Wool ? ? ? 7 ? ? ? ? ? ? Supertino Wool ? ? ? ? ? 20 Chapter 11 Form

Answer & Explanation Solved by verified expert

See Answer