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 P150,000. Gallons Sales price per gallon at split-off P225.50 300 500 Disposal cost per gallon at split-off P 62.50 Further processing costs P 50.00 Final sales price per gallon P350.00 2,400 1,100 500 M N 150.00 100.00 500.00 400.00 100.00 750.00 Disposal costs for the products if they are processed further are: М, Р 150.00; N, Р 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 P150,000. Gallons Sales price per gallon at split-off P225.50 300 500 Disposal cost per gallon at split-off P 62.50 Further processing costs P 50.00 Final sales price per gallon P350.00 2,400 1,100 500 M N 150.00 100.00 500.00 400.00 100.00 750.00 Disposal costs for the products if they are processed further are: М, Р 150.00; N, Р 275.00%; Q, P 50.00.

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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