Joint costs are the costs that benefit more than one product or process in the manufacturing process. The joint cost can be allocated either on physical basis or on value basis. To Calculate: Allocation of joint cost of land and improvement on value basis and average cost per lot

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Chapter 24, Problem 21E

To determine

Introduction:

Joint costs are the costs that benefit more than one product or process in the manufacturing process. The joint cost can be allocated either on physical basis or on value basis.

To Calculate:

Allocation of joint cost of land and improvement on value basis and average cost per lot

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