Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Management Posted 21 Mar 2018 My Price 8.00

Dover Studios shot

28.     LO.4 (By-product and cost allocation) Dover Studios shot hundreds of hours of footage that cost $20,000,000. From this footage, the company produced two mov- ies: Greedy CEOs and Greedy CEOs: The Sequel. The sequel used better sound effects than the original and was significantly more expensive to produce. However, audi- ences seemed to be more interested in the careers of Erin Sacks and Henry Whalen, discussed in the sequel, than the CEOs portrayed in the original movie and the sequel was much better received at the box office.

Dover Studios also generated revenue from admissions paid by numerous forensic accountants who wanted to tour the movie production set. The company accounted for this revenue as a by-product and used it to reduce joint cost before making allocations to the two feature-length movies.

The following information pertains to the two movies:

 

Products

Total Receipts

Separate Costs

Greedy CEOs

$10,000,000

$ 6,800,000

Greedy CEOs: The Sequel

58,000,000

41,200,000

Studio tours

800,000

480,000

 

a.     If joint cost is allocated based on net realizable value, how much of the joint cost is allocated to each movie?

b.    Based on your allocations in (a), how much profit was generated by each movie?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Mar 2018 05:03 AM My Price 8.00

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