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Comparative Profit and Loss Statement:

Comparative Profit and Loss Statement:

FINANCIAL ACCOUNTING
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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In manufacturing the main product, a company processes the incidental waste to two by-products A and B. From the following data relating to the products you are required to prepare a Comparative Profit and Loss Statement showing the individual costs and other details. The total costs upto separation point was RO 310,400. Main Product By-Product By-Product A B Sales 800,000 64,000 96,000 Costs after Seperation 80,000 12,800 14,400 Estimated Profit 20% 20% Estimated selling expenses as % to sales Value 20% 10% 15% 田 Product Profit Estimated Cost Post Separation Cost Proportion of Joint Cost Sales
Transcribed Image Text:In manufacturing the main product, a company processes the incidental waste to two by-products A and B. From the following data relating to the products you are required to prepare a Comparative Profit and Loss Statement showing the individual costs and other details. The total costs upto separation point was RO 310,400. Main Product By-Product By-Product A B Sales 800,000 64,000 96,000 Costs after Seperation 80,000 12,800 14,400 Estimated Profit 20% 20% Estimated selling expenses as % to sales Value 20% 10% 15% 田 Product Profit Estimated Cost Post Separation Cost Proportion of Joint Cost Sales
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