2. British Co. recovers three products from a joint process in October 20xx, the joint costs amounted to P 250,000. Other data follow: Quantities After Split-off costs Ultimate market value W-1 3,000 P 50,000 150,000 W-2 4,000 P 75,000 275,000 W-3 3,000 126 P 125,000 225,000 Using the market value method of joint cost allocation, production costs of W-1, W-2 and W- 3, respectively, are?

2. British Co. recovers three products from a joint process in October 20xx, the joint costs amounted to P 250,000. Other data follow: Quantities After Split-off costs Ultimate market value W-1 3,000 P 50,000 150,000 W-2 4,000 P 75,000 275,000 W-3 3,000 126 P 125,000 225,000 Using the market value method of joint cost allocation, production costs of W-1, W-2 and W- 3, respectively, are?

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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Please show me your solution so I can check mine. Thanks! ANC Inc. manufactures products S and T from a joint process. The sales value at split-off was P50,000 for 6,000 units of product S and P25,000 for 2,000 units of product T. Assuming that portion of the total joint costs properly allocated to product S using the relative sale value at split-off approach was P30,000, what were the total joint costs?