Joie Company manufactures two joint products R and S. Joie produced 12,000 units of R with an after split-off sales value of P45,000. However, if R were to be processed further, additional cost of P6,000 will be incurred but the sales value will increase to P60,000. Joie produced 6,000 units of S with an after split-off sales value of P30,000. However, if S were to be further processed, additional cost of P3,600 will be incurred but the sales value will go up to P36,000. Under the relative sale value at split-off approach, the allocation to R from the total product cost is P27,000. 21. What is the total joint product cost?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

PLEASE SHOW YOUR SOLUTIONS. ASAP THANKS. 

#21

Joie Company manufactures two joint products R and S. Joie produced 12,000 units of
R with an after split-off sales value of P45.000, However, if R were to be processed
further, additional cost of P6.000 will be incurred but the sales value will increase to
P60,000. Joie produced 6,000 units of S with an after split-off sales value of P30,000.
However, ifS were to be further processed, additional cost of P3.600 will be incurred
but the sales value will go up to P36,000. Under the relative sale value at split-off
approach, the allocation to R from the total product cost is P27,000.
21. What is the total joint product cost?
a. P75,000
b. P27,000
c. P45,000
d. P67,500
Transcribed Image Text:Joie Company manufactures two joint products R and S. Joie produced 12,000 units of R with an after split-off sales value of P45.000, However, if R were to be processed further, additional cost of P6.000 will be incurred but the sales value will increase to P60,000. Joie produced 6,000 units of S with an after split-off sales value of P30,000. However, ifS were to be further processed, additional cost of P3.600 will be incurred but the sales value will go up to P36,000. Under the relative sale value at split-off approach, the allocation to R from the total product cost is P27,000. 21. What is the total joint product cost? a. P75,000 b. P27,000 c. P45,000 d. P67,500
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education