BSBA Company produced joint products M. N and O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1.500; 2.500: 1.000); Unit Market value at split-off (P6: P10; P8): Final unit selling price (P10, P12, P15): Additional costs after spit off (P3,000; P2.000; P5,000): Quantity Sold (1.200; 2.000: 800). Using the market value at split-off method, what is the unit cost of Product O? O P7.00 O PR.13 O P11.67 O P7.80 BSBA Company produced joint products M, Nand O from same raw materials with total joint costs P35,000. Other data are as follows: Ouantity Produced in units (1.500: 2,500: 1,000): Unit Market value at split-off (P6: P10; P8): Final unit seling price (P10, P12. P15): Additional costs after split off (P3,000: P2.000; P5.000): Quantity Sold (1.200: 2.000: 800). Using the net realizable value, what is the unit cost of Product M? O P7.60 O P7.80 O P8.64 P7.00

Q: Describe and apply the lower-of-cost-or-net realizable value rule.

A:

Q: ost flow methods and assumptions. What

A: The different cost flow methods and assumptions are as follows: FIFO LIFO Weighted average

Q: what is an indirect cost and how is it different than a direct cost?

A: Indirect Cost: Indirect costs are the costs of doing business that are not easily identified with a…

Q: Understand thedifferences between directand indirect costs

A: Cost:   It refers to the economic value incurred by an organization for manufacturing a product or…

Q: . What are the three principle objectives of cost accounting system?

A: Cost accounting system is a system in which all the costs related to manufacturing, selliing the…

Q: Explain the difference between direct costs and indirect cost

A: Direct cost is the cost incurred by the organization while performing their center business process…

Q: In cost accounting, differentiate between allowable, allocable, reasonable, and consistent costs.

A: Allowable: A cost is allowable to a project if it meets the following criterias- The costs are…

Q: Define unavoidable fixed costs.

A: Unavoidable fixed costs are fixed costs which cannot be avoided by discontinuing a product line or…

Q: 3. Why there is a need to identify the standard cost?

A: Standard cost is the estimated cost of a certain process, resource or any item.

Q: Understand and apply the lower-of-cost-or-net realizable value rule.

A:

Q: he total mixed cost function

A: Mixed cost is a cost that contains both fixed and variable cost.Mixed cost algebric formula is as…

Q: Giving examples, distinguish between  Direct costs and indirect costs

A: Direct Costs are the costs that can be directly traced with the goods produced. It generally…

Q: What is the difference between a linear and a nonlinear cost function? Give an example of each type…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: relevant and irrelevant cost

A: Relevant and irrelevant costs are categories of costs based on their effect on decision making.

Q: costs in which there are variable components and fixed components.....

A: Fixed costs will not change with the change in the level of production. Variable costs will change…

Q: Explain why it is necessary to classify costs by their behaviour.

A: Lets understand the basics. Basically cost by behaviour means classification of total costs in fixed…

Q: How do cost management and financial accounting differ?

A: The accounting is a process to identify, classify and record the transactions of the business and…

Q: Define the following terms, and explain the relationship between them: (a) cost estimation, (b) cost…

A: Cost:   Cost can be defined as the cash and cash equivalent which is incurred against the products…

Q: How cost accounting is useful where financial accounting could not be answered. Give any exampleto…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Define the term Cost approaches.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What is offset accounting?

A: The accounting is a process to identify the business transactions, record the transactions, and…

Q: Describe and apply the lower-of-cost-or-market rule.

A: Cost:   It is the economic value incurred by an organization to produce a product or render a…

Q: What two assumptions are frequently made when estimating a cost function?

A: Cost Function:Cost function represents the basic change that occurs in the total cost due to the…

Q: What circumstances might create distortions where estimated costs are not an accurate representation…

A: The estimated costs are the costs determined through the estimation process on past…

Q: Discuss the difference between the revaluation model and cost model in detail.

A: Revaluation model and cost model are two different models of subsequent measurement of invested…

Q: Explain the Cost of Revenue vs. COGS.

A: INTRODUCTION: All costs and expenses directly associated to the manufacture of goods are included in…

Q: Why is it essential to determine unit costs or profits?

A: Determining unit cost means to find out total cost incurred on a particular unit It is determined by…

Q: What does indirect cost includes?

A: Indirect costs: The costs, which do not relate directly with the manufacturing of products, are…

Q: Explain how a cost item can be both a direct cost and an indirect cost.

A: Direct Cost:  Direct Cost means Cost which can be directly allocated to Cost centre/Cost unit. It…