Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Q1) Missou Mining Company mines an iron ore called Alpha. In the month of December, 400,000 tons of Alpha were mined and processed at cost of $742,500. As Alpha ore ismined, it is processed into Delta and Pi, where 60% of the Alpha output becomes Delta and 40% becomes Pi. Each product can be sold as is or processed into refined products Super Delta and Precision Pi. Selling prices for these products are: 

  Delta Super Delta Pi                    Precision Pi
Selling Price $7/ton $15/ton          $12/ton $24/ton

Processing costs to refin Delta into Super Delta are $2,400,000; processing costs to refine Pi into Precision Pi are $1,600,000     

problems:

a. Should Delta and Pi be sold as is or refined into Super Delta and Precision Pi?             

b. Recognize any costs in the problem which are not relevant to this decision                   

c. Determine the maximum profit that Missou Mining Company can expect to earn from production of 400,000 tons of Alpha?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921472

Have any Question? 


Related Questions in Accounting Basics

Ecampus accounting cycle paperaccounting cycle paper-

eCampus Accounting Cycle Paper Accounting Cycle Paper- Assessment Activity- Write a 700- 1,050-word paper including the following: · The purpose of accounting and financial reporting within your organization or an organi ...

Question part one what are the differences between a direct

QUESTION PART ONE: What are the differences between a direct cost and an indirect cost? Which is the more difficult cost to track? Why? How do indirect costs affect the cost of a product? Should indirect costs be include ...

Casedavid sutherland a partner and fraud examiner in rachin

Case David Sutherland, a partner and fraud examiner in Rachin Cohen & Holtz LLP, was driving to a client when he heard a CNN announcement that LucidCom, a newly emerged provider of network infrastructure and connectivity ...

Fbl5030 fundamentals of value creation ion business

FBL5030 Fundamentals of Value Creation ion Business Assignment - Accounting Assignment Requirements- 1.  The following is a list of 10 organisations/companies, one of which will be the subject of your analysis. CODE      ...

Because of recent financial disasters in the news the board

Because of recent financial disasters in the news, the board of directors of your company decided that they wanted to ascertain that the organization's code of ethics was appropriate and in agreement with the Code of Pro ...

The assignment will require the group to undertake research

The assignment will require the group to undertake research using the website of the Australian Stock Exchange (ASX) and/or the Company whose industry is Food, Beverage & Tobacco that you have chosen. Elder Ltd is the ap ...

Presentation on cybercrimemayfield electronics inc an

Presentation on CyberCrime Mayfield electronics, Inc., an international company has asked your accounting firm to share with its employees the threat of cybercrime and how the company can protect itself corporately as we ...

Principle of accounting -u2dbdeliverable length 150-200

Principle Of Accounting -U2DB Deliverable Length: 150-200 Words What do you think is the connection between a diary you may have had when you were young and the recording process that you have recently learned about? Wha ...

Using financial statement disclosures to infer bad debt

Using Financial Statement Disclosures to Infer Bad Debt Expense The 2009 annual report for Sears Holding Corporation contained the following Description Using Financial Statement Disclosures to Infer Bad Debt Expense The ...

Bull explain how the magnetic audit trail functionsbull are

• Explain how the magnetic audit trail functions. • Are large batch sizes preferable to small batch sizes? Explain. • Discuss why an understanding of legacy system technologies is of some importance to auditors. • If an ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate