Wren Pork Company uses the value basis of allocating joint costs in its production of pork products. Relevant information for the current period follows:ProductPoundsPrice/lb.Loin chops2,700$5.00Ground9,0002.00Ribs3,7504.60Ваcon7,5003.50The total joint cost for the current period was $60,000. How much of this cost should Wren Pork allocate to Loin chops?Multiple Choice$0.$60,000.$14,400.$10,800. The total joint cost for the current period was $60,000. How much of this cost should Wren Pork allocate to Loin chops?Multiple Choice$0.$60,000.$14,400.$10,800.$21,000.

Joint cost is the cost where two or more products are produced within a single production processthat means they cannot be produced separately. WORKINGS RESULT Correct option is D ($10,800).

Business

Accounting

Wren Pork Company uses the value basis of allocating joint costs in its production of pork products. Relevant information for the current period follows: Product Pounds Price/lb. Loin chops 2,700 $5.00 Ground 9,000 2.00 Ribs 3,750 4.60 Ваcon 7,500 3.50 The total joint cost for the current period was $60,00O. How much of this cost should Wren Pork allocate to Loin chops? Multiple Choice $0. $60,000. $14,400. $10,800.

Wren Pork Company uses the value basis of allocating joint costs in its production of pork products. Relevant information for the current period follows: Product Pounds Price/lb. Loin chops 2,700 $5.00 Ground 9,000 2.00 Ribs 3,750 4.60 Ваcon 7,500 3.50 The total joint cost for the current period was $60,00O. How much of this cost should Wren Pork allocate to Loin chops? Multiple Choice $0. $60,000. $14,400. $10,800.

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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