Bonanza Co. manufactures products X and Y from a joint process that also yields a by-product, Z. Revenue from sales of Z is treated as a reduction of joint costs. Additional information is as follows:PRODUCTSXYТОTALUnits produced21,00021,00010,50052,500Joint costs?$282,000Sales value at split-off$315,000$157,500$10,500$483,000Joint costs were allocated using the net realizable value method at the split-off point. The joint costs allocated to product X wereMultiple Choice$181,000.$157,500.$78,750.$113,800.

The question is based on the concept of Cost Accounting.

Answered: loint costs were allocated using the…

loint costs were allocated using the net realizable value method at the split-off point. The joint costs allocated to product X were Multiple Choice $181,000. $157,500.

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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