Relative Sales Value at Split off Method: Relative sales value at split off method allocates joint cost on the basis of sum total of sales value at the split off point. Net Realizable Value (NRV) Method: NRV method is a method of joint cost allocation which takes into consideration additional costs required to be incurred in the further processing of the products. To identify: Situation where NRV method can be used but not sales value at split off method.

Question

Want to see the full answer?

Answer 1

Question

Chapter 16, Problem 16.7Q

To determine

Relative Sales Value at Split off Method:

Relative sales value at split off method allocates joint cost on the basis of sum total of sales value at the split off point.

Net Realizable Value (NRV) Method:

NRV method is a method of joint cost allocation which takes into consideration additional costs required to be incurred in the further processing of the products.

To identify: Situation where NRV method can be used but not sales value at split off method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Please given correct answer general accounting

Do fast answer of this general accounting question

General accounting

Answer 2

Question

Chapter 16, Problem 16.7Q

To determine

Relative Sales Value at Split off Method:

Relative sales value at split off method allocates joint cost on the basis of sum total of sales value at the split off point.

Net Realizable Value (NRV) Method:

NRV method is a method of joint cost allocation which takes into consideration additional costs required to be incurred in the further processing of the products.

To identify: Situation where NRV method can be used but not sales value at split off method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 16, Problem 16.7Q

To determine

Relative Sales Value at Split off Method:

Relative sales value at split off method allocates joint cost on the basis of sum total of sales value at the split off point.

Net Realizable Value (NRV) Method:

NRV method is a method of joint cost allocation which takes into consideration additional costs required to be incurred in the further processing of the products.

To identify: Situation where NRV method can be used but not sales value at split off method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 16, Problem 16.7Q

To determine

Relative Sales Value at Split off Method:

Relative sales value at split off method allocates joint cost on the basis of sum total of sales value at the split off point.

Net Realizable Value (NRV) Method:

NRV method is a method of joint cost allocation which takes into consideration additional costs required to be incurred in the further processing of the products.

To identify: Situation where NRV method can be used but not sales value at split off method.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 16, Problem 16.7Q

To determine

Relative Sales Value at Split off Method:

Relative sales value at split off method allocates joint cost on the basis of sum total of sales value at the split off point.

Net Realizable Value (NRV) Method:

NRV method is a method of joint cost allocation which takes into consideration additional costs required to be incurred in the further processing of the products.

To identify: Situation where NRV method can be used but not sales value at split off method.

Answer 6

Chapter 16, Problem 16.7Q

To determine

Relative Sales Value at Split off Method:

Relative sales value at split off method allocates joint cost on the basis of sum total of sales value at the split off point.

Net Realizable Value (NRV) Method:

NRV method is a method of joint cost allocation which takes into consideration additional costs required to be incurred in the further processing of the products.

To identify: Situation where NRV method can be used but not sales value at split off method.

Answer 7

Chapter 16, Problem 16.7Q

To determine

Relative Sales Value at Split off Method:

Relative sales value at split off method allocates joint cost on the basis of sum total of sales value at the split off point.

Net Realizable Value (NRV) Method:

NRV method is a method of joint cost allocation which takes into consideration additional costs required to be incurred in the further processing of the products.

To identify: Situation where NRV method can be used but not sales value at split off method.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 16 - Give two examples of industries in which joint...Ch. 16 - What is a joint cost? What is a separable cost?Ch. 16 - Distinguish between a joint product and a...Ch. 16 - Why might the number of products in a joint-cost...Ch. 16 - Provide three reasons for allocating joint costs...Ch. 16 - Why does the sales value at splitoff method use...Ch. 16 - Prob. 16.7Q Ch. 16 - Distinguish between the sales value at splitoff...Ch. 16 - Give two limitations of the physical-measure...Ch. 16 - How might a company simplify its use of the NRV...

Want to see the full answer?

Chapter 16 Solutions