Gasoline Heating Oils Kerosene Total Market value of gallons sold P400,000 P285,000 P365,400 Market value per gallon

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Gasoline Heating Oils Kerosene

Total Market value of gallons sold P400,000 P285,000 P365,400

Market value per gallon P10 P6 P7

Beginning Inventory 10,275 20,000 25,000

The above chart was used by the GET Rich Company for allocating P450,000 of joint costs incurred in March 7 for Department A.

During March the company had no ending inventory. No additional processing costs were incurred. The GET Rich Company uses a process cost system. If management decided to use the physical output method to allocate joint costs, what would be the joint cost for Gasoline?

Posted Date: May 10, 2024 03:54 AM

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Gasoline Heating Oils Kerosene Total Market value of gallons sold P400,000 P285,000 P365,400 Market value per gallon

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To determine the joint cost for Gasoline using the physical output method we need to allocate the jo... View the full answer

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