Business, 12.03.2020 00:05 DaFuzzyDude

Finch 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 15,000 pounds of raw chicken that costs $7,900, the company produces two parts: 3,000 pounds of drumsticks and 6,000 pounds of breast for a processing cost of $6,491. The chicken breast is further processed into 5,200 pounds of steak for a processing cost of $2,000. The market price of drumsticks per pound is $1.55 and the market price per pound of chicken steak is $4.00. If Finch decided to sell chicken breast instead of chicken steak, the price per pound would be $2.30. Required a-1. Allocate the joint cost to the joint products, drumsticks and breasts, using weight as the allocation base. a-2. Calculate the gross margin for each product. a-3. If the drumsticks are producing a loss, should that product line be eliminated? b-1. Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values as the allocation base. b-2. Calculate the gross margin for each product. c-1. Should Martin further process chicken breasts into chicken steak? (Use the assumption made in requirement b-1). c-2. How would the profit be affected by your answer in c-1?

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Finch Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens f...

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