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TAC Inc., produces two products – Tics and Toes, from one process. The joint processing costs of materials, labor, and overhead total $220,000, producing 20,000 units of Tics and 30,000 units of Toes. The company sells Tics for $20 per unit and Toes for $15 per unit. The amount of joint costs assigned to Tics using the relative sales value method is: A) $103,532 B) $146,666 C) $73,333 D) $116, 471

TAC Inc., produces two products – Tics and Toes, from one process. The joint processing costs of materials, labor, and overhead total $220,000, producing 20,000 units of Tics and 30,000 units of Toes. The company sells Tics for $20 per unit and Toes for $15 per unit. The amount of joint costs assigned to Tics using the relative sales value method is: A) $103,532 B) $146,666 C) $73,333 D) $116, 471

FINANCIAL ACCOUNTING
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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TAC Inc., produces two products – Tics and Toes, from one process. The joint processing costs of materials, labor, and overhead total $220,000, producing 20,000 units of Tics and 30,000 units of Toes. The company sells Tics for $20 per unit and Toes for $15 per unit. The amount of joint costs assigned to Tics using the relative sales value method is:

A) $103,532

B) $146,666

C) $73,333

D) $116, 471

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