Posted: April 26th, 2016

4) Using the sales value at splitoff method, what is the gross-margin percentage for condensed goat milk at the split off point?

Skim goat milk can be processed further to yield 56,200 gallons of skim goat ice cream, for an additional processing cost per usable gallon of $2.50. The product can be sold for $9 per gallon.

There are no beginning and ending inventory balances.
1.) What is the estimated net realizable value of Xyla at the splitoff point?
A) $365,300
B) $505,800
C) $585,000
D) $702,000

2) What is the estimated net realizable value of the skim goat ice cream at the splitoff point?
A) $365,300
B) $505,800
C) $220,400
D) $170,900

3) Using estimated net realizable value, what amount of the joint costs would be allocated to Xyla and to the skim goat ice cream?
A) $83,942 and $60,538
B) $88,942 and $55,538
C) $65,592 and $78,888
D) $144,480 and $72,140

4) Using the sales value at splitoff method, what is the gross-margin percentage for condensed goat milk at the splitoff point?
A) 21.1%
B) 55.1%
C) 58.1%
D) 38.2%

5) Using the sales value at splitoff method, what is the gross-margin percentage for skim goat milk at the splitoff point?
A) 21.1%
B) 55.1%
C) 58.1%
D) 38.2%

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