Question: Can you please help me to solve these problems? So that I can compare and recheck your solution on mine too. Thank you! Exercise 8-2.

Can you please help me to solve these problems? So that I can compare and recheck your solution on mine too. Thank you!

Can you please help me to solve these problems? So that I

Exercise 8-2. JOINT COST ALLOCATION The AB Company produces three joint products, A, N and T. During February, the following Information was recorded: Product Product Product Total Joint materials O A N I P 5,000 Joint processing cost 25,000 Separable processing costs P8,000 P 5,000 P2,000 15,000 Output in units 2,000 5,000 3,000 10,000 Kilograms per unit 5 2 3 Sales price per unit @ split off P5.00 P 3.00 P 4.00 Index points 2 4 3 REQUIRED: Compute for the gross profit for each product by allocating the joint cost using: [a] market value method, [b]quantitative unit method; [c] average unit cost method; [d] weighted average method Exercise 8-3. JOINT COST ALLOCATION - HYPOTHETICAL MARKET VALUE METHOD JC Company manufactures three different products from a single raw material. A summary of production costs shows: Product Product Product Total B A Y Output in kgs 80,000 200,000 160,000 440,000 Selling price/ kg PO.75 P1.00 P1.50 Costs: Product Product Product Total B A Cost Materials -0- -0- -0- P90,000 Direct Labor P 3,000 P20,000 P30,000 80,000 Variable FOH 2,000 10,000 16,000 45,000 Fixed FOH 15,000 34,000 30,000 115,000 All separable costs have been assigned to products but the joint cost has not been allocated. All of the year's output was sold. Compute for the total cost for each product, allocating the joint cost by the market value method

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