Scotland Beauty Products manufactures face cream, body lotion, and liquid soap in a joint manufacturing process. At the split-off point, the company has 300 pounds of face cream, 200 pounds of body lotion, and 300 pounds of liquid soap and has incurred $200,000 in joint costs. Using the weighted average method, allocate the joint costs to: a. Face Cream with a weight factor of 1 $ b. Body Lotion with a weight factor of 3 $ c. Liquid Soap with a weight factor of 1 $
Scotland Beauty Products manufactures face cream, body lotion, and liquid soap in a joint manufacturing process. At the split-off point, the company has 300 pounds of face cream, 200 pounds of body lotion, and 300 pounds of liquid soap and has incurred $200,000 in joint costs. Using the weighted average method, allocate the joint costs to: a. Face Cream with a weight factor of 1 $ b. Body Lotion with a weight factor of 3 $ c. Liquid Soap with a weight factor of 1 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Scotland Beauty Products manufactures face cream, body lotion, and liquid soap in a joint manufacturing process. At the split-off point, the company has 300 pounds of face cream, 200 pounds of body lotion, and 300 pounds of liquid soap and has incurred $200,000 in joint costs.
Using the weighted average method, allocate the joint costs to:
| a. Face Cream with a weight factor of 1 | $ | |
| b. Body Lotion with a weight factor of 3 | $ | |
| c. Liquid Soap with a weight factor of 1 | $ |
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