A granary allocates the cost of unprocessed wheat to the production of feed, flour, and starch....
A granary allocates the cost of unprocessed wheat to the
production of feed, flour, and starch. For the current period,
unprocessed wheat was purchased for $250,000, and the following
quantities of product and sales revenues were produced.
| Product | Pounds | Price per Pound | |||
| Feed | 100,000 | $ | 0.90 | ||
| Flour | 50,000 | 2.20 | |||
| Starch | 20,000 | 1.00 | |||
How much of the $250,000 cost should be allocated to feed if the value basis is used? (Round your intermediate percentage to the nearest whole percent.)
Multiple Choice
-
$0.
-
$133,333.
-
$250,000.
-
$130,000.
-
$102,500.
Homework Answers
Answer
- Working
|
Pounds |
Price per pounds |
Value |
|
|
Feed |
100,000 |
$0.90 |
$90,000 |
|
Flour |
50,000 |
$2.20 |
$110,000 |
|
Starch |
20,000 |
$1.00 |
$20,000 |
|
Total Value |
$220,000 |
||
- Answer:
Feed’s value % of total value = (90000 / 220000) x 100 = 41%
Cost allocated to Feed = $ 250,000 cost to be allocated x 41%
= $ 102,500 - Correct Answer = Option #5: $ 102,500
Add Answer to:
A granary allocates the cost of unprocessed wheat to the
production of feed, flour, and starch....
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