LOL company uses the weighted average method to assign joint costs. Weight factors used to assign joint costs to its three joint products were: Product A, 4 points; Product B, 7 points; and Product C, 8 points. Units produced were Product A, 10,000; Product B, 5,000 and Product C, 3,125. Joint costs amounted to P100,000. How much would be allocated to Product A?

LOL company uses the weighted average method to assign joint costs. Weight factors used to assign joint costs to its three joint products were: Product A, 4 points; Product B, 7 points; and Product C, 8 points. Units produced were Product A, 10,000; Product B, 5,000 and Product C, 3,125. Joint costs amounted to P100,000. How much would be allocated to Product A?

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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