How much is the net income attributable to Product M, assuming that joint costs are allocated using the Approximate Net Realizable Value x, and after being processed further, 1,800 gallons of Product M was sold during the year? TVA Company produces three products from the same process and incurs joint processing costs of PI50,000. Gallons Sales price per gallon at split-off P225 50 300 Disposal cost per gallon at split-off P 62 50 150.00 400 00 Further processing costs P 50.00 Final sales price per gallon P350.00 2,400 1,100 M 100.00 500.00 500 500 100.00 750.00 Disposal costs for the products if they are processed further are: M, P 150.00; N, P 275.00; Q. P 50.00.
How much is the net income attributable to Product M, assuming that joint costs are allocated using the Approximate Net Realizable Value x, and after being processed further, 1,800 gallons of Product M was sold during the year? TVA Company produces three products from the same process and incurs joint processing costs of PI50,000. Gallons Sales price per gallon at split-off P225 50 300 Disposal cost per gallon at split-off P 62 50 150.00 400 00 Further processing costs P 50.00 Final sales price per gallon P350.00 2,400 1,100 M 100.00 500.00 500 500 100.00 750.00 Disposal costs for the products if they are processed further are: M, P 150.00; N, P 275.00; Q. P 50.00.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:How much is the net income attributable
to Product M, assuming that joint costs
are allocated using the Approximate Net
Realizable Value x, and after being
processed further, 1,800 gallons of
Product M was sold during the year?
TVA Company produces three products from the same process and incurs joint processing costs
of PI50,000.
Sales price per
gallon at split-off
P225.50
300
Disposal cost per
gallon at split-off
P 62 50
150.00
Final sales price
per gallon
P350.00
500.00
Gallons
Further
2.400
1,100
processing costs
P 50.00
100.00
500
500
400 00
100.00
750.00
Disposal costs for the products if they are processed further are:
M, P 150.00; N, P 275.00; Q. P S0.00.
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