Data pertaining to a company's joint production for the current period follows: Quantities produced Y 300 lbs. 250 lbs. Market value at split-off point $10/lb. $12/lb. Compute the cost to be allocated to Product Y for this period's $1,020 of joint costs if the value basis is used.

Data pertaining to a company's joint production for the current period follows: Quantities produced Y 300 lbs. 250 lbs. Market value at split-off point $10/lb. $12/lb. Compute the cost to be allocated to Product Y for this period's $1,020 of joint costs if the value basis is used.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 14E: LeMoyne Manufacturing Inc.’s joint cost of producing 2,000 units of Product X, 1,000 units of...

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Question

Compute the cost to be allocated

Data pertaining to a company's joint production for the
current period follows:
Quantities produced
Y
300 lbs. 250 lbs.
Market value at split-off point $10/lb. $12/lb.
Compute the cost to be allocated to Product Y for this
period's $1,020 of joint costs if the value basis is used.

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