Author Question: Bismite Corporation purchases trees from Cheney lumber and processes them up to the split-off point ... (Read 41 times)

javeds · **on:** Mar 6, 2021

Bismite Corporation purchases trees from Cheney lumber 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 October:

Trees processed:

270 trees

Production:

paper

180,000 sheets

pencil casings

180,000

Sales:

paper

166,000 at $0.20 per page

pencil casings

176,000 at $0.23 per casing

The cost of purchasing 270 trees and processing them up to the split-off point to yield 180,000 sheets of paper and 180,000 pencil casings is $15,000.

Bismite's accounting department reported no beginning inventory.

What are the paper's and the pencil's approximate weighted cost proportions using the sales value at
split-off method, respectively?
◦ 50.00% and 50.00%
◦ 45.06% and 54.94%
◦ 48.54% and 51.46%
◦ 46.51% and 53.49%

zacnyjessica · **Reply #1 on:** Mar 6, 2021

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