Rundle Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and processes them into two different products: chicken drumsticks and chicken steak. From a standard batch of 16,000 pounds of raw chicken that costs $8,800, the company produces two parts: 4,000 pounds of drumsticks and 5,400 pounds of breast for a processing cost of $7,805. The chicken breast is further processed into 4,600 pounds of steak for a processing cost of $2,600. The market price of drumsticks per pound is $1.75 and the market price per pound of chicken steak is $4.60. If Rundle decided to sell chicken breast instead of chicken steak, the price per pound would be $2.50 Required:
a. Allocate the joint cost to the joint products, drumsticks and breasts, using weight as the allocation base.
b. Calculate the gross profit for each product.
c. If the drumsticks are producing a loss, should that product line be eliminated?
d. Reallocate the joint cost to the joint products. drumsticks and breasts, using relative market values as the allocation base.
e. Calculate the gross profit for each product
f. Should Martin further process chicken breasts into chicken steak? (use the assumption made in requirement b-O.
g. How would the profit be affected by your answer in c-T?

Ticker services began operations in 2015 and maintains long-term investments in available-for-sale securities. the year-end cost and fair values for its portfolio of these investments follow.portfolio of available-for-sale securities cost fair valuedecember 31, 2015 $ 369,060 $ 357,988 december 31, 2016 420,728 445,972 december 31, 2017 572,190 676,901 december 31, 2018 864,007 768,966 prepare journal entries to record each year-end fair value adjustment for these securities.calculation adjustment required to fair value adjustment.12/31/15 existing balance in fair value adjustment-afs (lt) required balance in fair value adjustment-afs (lt) adjustment required to fair value adjustment-afs (lt) 12/31/16 existing balance in fair value adjustment-afs (lt) required balance in fair value adjustment-afs (lt) adjustment required to fair value adjustment-afs (lt) 12/31/17 existing balance in fair value adjustment-afs (lt) required balance in fair value adjustment-afs (lt) adjustment required to fair value adjustment-afs (lt) 12/31/18 existing balance in fair value adjustment-afs (lt) required balance in fair value adjustment-afs (lt) adjustment required to fair value adjustment-afs (lt) record the year-end adjusting entry for the securities portfolio as of december 31, 2015.date general journal debit creditdec 31, 2015 record the year-end adjusting entry for the securities portfolio as of december 31, 2016.date general journal debit creditdec 31, 2016 record the year-end adjusting entry for the securities portfolio as of december 31, 2017.date general journal debit creditdec 31, 2017 record the year-end adjusting entry for the securities portfolio as of december 31, 2018.date general journal debit creditdec 31, 2018

Donna and gary are involved in an automobile accident. gary initiates a lawsuit against donna by filing a complaint. if donna files a motion to dismiss, she is asserting that

Suppose the following items were taken from the 2017 financial statements of whispering winds corp.. (all dollars are in millions.) common stock $3,230 accumulated depreciation—equipment $3,940 prepaid rent 175 accounts payable 1,560 equipment 6,940 patents 2,270 stock investments (long-term) 670 notes payable (long-term) 780 debt investments (short-term) 1,740 retained earnings 6,175 income taxes payable 150 accounts receivable 1,740 cash 1,290 inventory 1,010 prepare a classified balance sheet in good form as of december 31, 2017. (list current assets in order of liquidity.)