Stoney Brook Company produces two products (X and Y) from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Joint manufacturing costs for the year were $66,000. Sales values and costs were as follows: Product Xx Y Units Sales Price at Split-Off Made 9,000 6,000 Multiple Choice $27,000. $31,000. If the joint production costs are allocated based on the relative-sales-value method, the amount of joint cost assigned to product X would be: $22,000 $42,000 84,000 $44,000 If Processed Further Separable Cost None of the answers is correct Sales Value $80,000 94,000 $10,500 7,500
Stoney Brook Company produces two products (X and Y) from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Joint manufacturing costs for the year were $66,000. Sales values and costs were as follows: Product Xx Y Units Sales Price at Split-Off Made 9,000 6,000 Multiple Choice $27,000. $31,000. If the joint production costs are allocated based on the relative-sales-value method, the amount of joint cost assigned to product X would be: $22,000 $42,000 84,000 $44,000 If Processed Further Separable Cost None of the answers is correct Sales Value $80,000 94,000 $10,500 7,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text:Stoney Brook Company produces two products (X and Y) from a joint process. Each product may be sold at the split-off point or processed
further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to
the products involved. Joint manufacturing costs for the year were $66,000. Sales values and costs were as follows:
Units Sales Price
at Split-Off
$42,000
84,000
Product Made
X
9,000
Y
6,000
Multiple Choice
If the joint production costs are allocated based on the relative-sales-value method, the amount of joint cost assigned to product X would
be:
$27,000.
$31,000.
$22,000
$44,000
If Processed Further
Separable
Cost
$10,500
7,500
None of the answers is correct
Sales
Value
$80,000
94,000
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