12-gauge shotgun 20-gauge shotgun Totals B Joint Cost Allocation-Physical Units Method Blake's Blacksmith Co. produces two types of shotguns, a 12-gauge and 20-gauge. The shotguns are made through a joint production process that ultimately produces 35 12-gauge shotguns and 35 20-gauge shotguns and costs a total of $4,000 per batch. After the split-off point, each type of shotgun goes through an additional crafting process before it is sold. The additional production process of the 12-gauge shotgun costs $35 per gun, after which it is sold for $180 per gun. The additional production process of the 20-gauge shotgun costs $24 per gun, after which it is sold for $144 per gun. Determine the amount of joint production costs allocated to each type of shotgun using the physical units method. Joint Product Allocation U

12-gauge shotgun 20-gauge shotgun Totals B Joint Cost Allocation-Physical Units Method Blake's Blacksmith Co. produces two types of shotguns, a 12-gauge and 20-gauge. The shotguns are made through a joint production process that ultimately produces 35 12-gauge shotguns and 35 20-gauge shotguns and costs a total of $4,000 per batch. After the split-off point, each type of shotgun goes through an additional crafting process before it is sold. The additional production process of the 12-gauge shotgun costs $35 per gun, after which it is sold for $180 per gun. The additional production process of the 20-gauge shotgun costs $24 per gun, after which it is sold for $144 per gun. Determine the amount of joint production costs allocated to each type of shotgun using the physical units method. Joint Product Allocation U

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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