Company manufactures two joint products. Product line one sells at 30 per unit, while product two sells at 60 per unit. The company uses the net realizable value method for allocating joint costs.For the month of May, the production activities were as follows:

Joint production costs 55,000

Further processing costs after split off:

Product one 34,000

Product two 36,000

Number of units produced:

Product one 2,000units

Product two 1,000units

What was the joint cost allocated?

Answer rating: 100% (QA)

To determine the joint cost allocated using the net realizable value method we need to calculate the ... View the full answer