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Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
Edition 2ISBN: 978-0077274993Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
Edition 2ISBN: 978-0077274993 Exercise 45
Net Realizable Value Method
Alpha Company manufactures products XX-1 and XX-2 from a joint process. Total joint costs are $60,000. The sales value at split-off was $70,000 for 4,000 units of product XX-1 and $30,000 for 1,000 units of product XX-2.
Required
Assuming that total joint costs are allocated using the net realizable value at split-off approach, what amount of the joint costs was allocated to product XX-1
Alpha Company manufactures products XX-1 and XX-2 from a joint process. Total joint costs are $60,000. The sales value at split-off was $70,000 for 4,000 units of product XX-1 and $30,000 for 1,000 units of product XX-2.
Required
Assuming that total joint costs are allocated using the net realizable value at split-off approach, what amount of the joint costs was allocated to product XX-1
Explanation
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Verified
Joint Cost is the cost incurred when 2 o...
Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
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