Consider the Following Statement: Overall Sales Revenue Minus Overall Costs

Multiple Choice

Consider the following statement: Overall sales revenue minus overall costs (joint plus further processing costs) is calculated to yield gross profit and the gross profit percentage.Each product is then assigned the same cost of goods sold percentage.Which joint cost allocation method does the statement describe?

A) constant gross margin method
B) weighted average method
C) sales-value-at-split-off method
D) net realizable method