NUBD Co. produces two products from a joint process.Information about the two joint products as follows: Anticipated production Selling price per pound at split-off Additional processing costs/pound after split-off (all variable) Selling price/pound after further processing Product X 2,000 lbs P30 P15 Product Y 4,000 lbs P16 P30 P40 P50

NUBD Co. produces two products from a joint process.Information about the two joint products as follows: Anticipated production Selling price per pound at split-off Additional processing costs/pound after split-off (all variable) Selling price/pound after further processing Product X 2,000 lbs P30 P15 Product Y 4,000 lbs P16 P30 P40 P50

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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Please help break it down. Thanks!
Or it can expressed as the investor sells goods to the associate for 65,000 (selling price), the selling price includes a mark up on cost of 30%. Profit made by seller= 65,000 * 0.3/1+0.3= 15,000 My instructor told me that in order to solve this problem, I need to convert the markup into the gross profit and then multiply it by the selling price. I didn’t get the idea of converting the markup into GP. Refering to the question, that is 0.3/1+0.3. If possible, please analyse this bit. That is all I need Thanks