Michelle Company produces joint Products A and B from a process that also yields by-product Y. The by-product require additional processing before it can be sold. The cost assigned to the by-product is its market value minus additional costs incurred after split-off. Information concerning a batch produced in January, 2016 at a joint cost of P40,000 is as follows: UNITS MARKET COSTS AFTER PRODUCT SPLIT-OFF P.4,500 3,500 1,000 9. How much of the joint cost should be allocated to the joint products? PRODUCED 800 700 VALUE P 44,000 32,000 4,000 A В 500 P 35,000 b. а. P 36,000 P 37,000 d. P 39,000

Michelle Company produces joint Products A and B from a process that also yields by-product Y. The by-product require additional processing before it can be sold. The cost assigned to the by-product is its market value minus additional costs incurred after split-off. Information concerning a batch produced in January, 2016 at a joint cost of P40,000 is as follows: UNITS MARKET COSTS AFTER PRODUCT SPLIT-OFF P.4,500 3,500 1,000 9. How much of the joint cost should be allocated to the joint products? PRODUCED 800 700 VALUE P 44,000 32,000 4,000 A В 500 P 35,000 b. а. P 36,000 P 37,000 d. P 39,000

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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