3 Joint Cost Allocation-Market Value at Split-off MethodSugar Sweetheart, Inc., jointly produces raw sugar, granulated sugar, and caster sugar. After the split-off point, raw sugar is immediately sold for $0.20 perpound, while granulated and caster sugar are processed further. The market value of the granulated sugar and caster sugar is estimated to both be $0.25 atthe split-off point. One batch of joint production costs $1,640 and yields 3,000 pounds of raw sugar, 3,600 pounds of granulated sugar, and 2,000 pounds ofcaster sugar at the split-off point.Allocate the joint costs of production to each product using the market value at split-off method.Jolnt ProductAllocationRaw sugarGranulated sugarCaster sugarTotals

Allocation of Joint costs using market value at split off point : Joint product Quantity (in…

Joint Cost Allocation-Market Value at Split-off Method Sugar Sweetheart, Inc., jointly produces raw sugar, granulated sug pound, while granulated and caster sugar are processed further. The the split-off point. One batch of joint production costs $1,640 and y caster sugar at the split-off point.

Joint Cost Allocation-Market Value at Split-off Method Sugar Sweetheart, Inc., jointly produces raw sugar, granulated sug pound, while granulated and caster sugar are processed further. The the split-off point. One batch of joint production costs $1,640 and y caster sugar at the split-off point.

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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