The following information relates to a joint production process for three products, with a total joint production cost of $135,000. There are no separable processing costs for any of the three products. Product 1 2 3 Product 1 2 Sales Value at Units at Split-Off Split-Off $189,000 260 54,000 27,000 $270,000 sume that the total sales value at the split-off point for product 1 is $81,000 instead of $189,000 and the sales value of product 3 is 700 instead of $27,000. Assume also that, because of its relatively low sales value, the firm treats product 3 as a by-product and es the asset recognition method for accounting for by-products. What amount of joint cost would be allocated to the products using e sales value at split-off method? 780 1,560 2,600 Allocated Joint Cost

The following information relates to a joint production process for three products, with a total joint production cost of $135,000. There are no separable processing costs for any of the three products. Product 1 2 3 Product 1 2 Sales Value at Units at Split-Off Split-Off $189,000 260 54,000 27,000 $270,000 sume that the total sales value at the split-off point for product 1 is $81,000 instead of $189,000 and the sales value of product 3 is 700 instead of $27,000. Assume also that, because of its relatively low sales value, the firm treats product 3 as a by-product and es the asset recognition method for accounting for by-products. What amount of joint cost would be allocated to the products using e sales value at split-off method? 780 1,560 2,600 Allocated Joint Cost

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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