10,000 Life Co. manufactures products X and Y from a joint process that also yields a by- product, Z. Revenue from sales of Z is treated as a reduction of joint costs. Additional information is as follows: Units produced. Joint costs Sales value at split-off X 20,000 ? 9. b. PRODUCTS Y 20,000 ? P300,000 P150,000 Joint costs were allocated using the sales value-off method. 2. The joint costs allocated to product X were: P. 75,000 P 100,000 CP 150,000 d. P 168,000. Z 10,000 ? P 10,000 TOTAL 50,000, P 262,000 P 460,000

10,000 Life Co. manufactures products X and Y from a joint process that also yields a by- product, Z. Revenue from sales of Z is treated as a reduction of joint costs. Additional information is as follows: Units produced. Joint costs Sales value at split-off X 20,000 ? 9. b. PRODUCTS Y 20,000 ? P300,000 P150,000 Joint costs were allocated using the sales value-off method. 2. The joint costs allocated to product X were: P. 75,000 P 100,000 CP 150,000 d. P 168,000. Z 10,000 ? P 10,000 TOTAL 50,000, P 262,000 P 460,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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