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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 3
Physical Quantities Method
The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $126,000. Additional information follows:
Required
a. Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product KA (including $36,000 if processed further)
b. Assuming that joint product costs are allocated using the sales value at split-off (net realizable value method), what was the total cost of product KB (including the $28,000 if processed further)
The following questions relate to Kyle Company, which manufactures products KA, KB, and KC from a joint process. Joint product costs were $126,000. Additional information follows:
Required
a. Assuming that joint product costs are allocated using the physical quantities (units produced) method, what was the total cost of product KA (including $36,000 if processed further)
b. Assuming that joint product costs are allocated using the sales value at split-off (net realizable value method), what was the total cost of product KB (including the $28,000 if processed further)
Explanation
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Cost accounting system
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Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
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