Problem 1 The company produces four joint products, which have a manufacturing cost of P434,000 at split off point. Data pertaining to these products are as follows: Product Market Value at Split off Units Produced A 20,000 B 32,000 C 36,000 D 24,000 P4.00 1.75 3.00 2.75 Required: Allocate the joint cost using (a) Market value method (b) Average unit cost method

Problem 1 The company produces four joint products, which have a manufacturing cost of P434,000 at split off point. Data pertaining to these products are as follows: Product Market Value at Split off Units Produced A 20,000 B 32,000 C 36,000 D 24,000 P4.00 1.75 3.00 2.75 Required: Allocate the joint cost using (a) Market value method (b) Average unit cost method

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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Using sales value at split-off, what amount of joint processing cost is allocated to Product Alpha? Using a physical measurement method, what amount of joint processing cost is allocated to Product Gamma? Using net realizable value at split-off, what amount of joint processing cost is allocated to Product Delta?