Please do not give solution in image format thanku The Mallak Company produced three joint products at a joint cost of $122,000. Two of these products were processed further.Production and sales were:Product Weight Sales Additional Processing Costs311,000 lbs. $PQR111,000 lbs.111,000 lbs.264,25041,000199,750$211,000-0-111,000Assume Q is a by-product and Mallak uses the cost reduction method of accounting for by-product cost. If estimated net realizablevalue is used, how much of the joint costs would be allocated to product R?Multiple Choice$45,000.$50,625.$61,000.$76,250.

A cost that helps more than one product is referred to as a joint cost. Labor, materials, and…

The Mallak Company produced three joint products at a joint cost of $122,000. Two of these products were processed further. Production and sales were: Product Weight Sales Additional Processing Costs 311,000 lbs. $ 111,000 lbs. 111,000 lbs. P R 264,250 41,000 199,750 $ 211,000 -0- 111,000 Assume Q is a by-product and Mallak uses the cost reduction method of accounting for by-product cost. If estimated net realizable value is used, how much of the joint costs would be allocated to product R? Multiple Choice $45,000. $50,625. $61,000. $76,250.

The Mallak Company produced three joint products at a joint cost of $122,000. Two of these products were processed further. Production and sales were: Product Weight Sales Additional Processing Costs 311,000 lbs. $ 111,000 lbs. 111,000 lbs. P R 264,250 41,000 199,750 $ 211,000 -0- 111,000 Assume Q is a by-product and Mallak uses the cost reduction method of accounting for by-product cost. If estimated net realizable value is used, how much of the joint costs would be allocated to product R? Multiple Choice $45,000. $50,625. $61,000. $76,250.

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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