Question: If two or more products share a common process before they are separated, the joint costs should be allocated in a manner that: Assigns a

If two or more products share a common process before they are separated, the joint costs should be allocated in a manner that:

Assigns a proportionate amount of the total cost equitably to each identifiable product

Maximizes total earnings.

Minimizes variations in a unit of production cost.

Does not introduce an element of estimation into the process of accumulating costs for each product.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Answer all questions her The standard cost card for product Z shows the following details: Standard costs per unit of Z produced: 4 kgs of material A 3.10 per kg 3 litres of material B @ 1.70 per...

Q:

this is for cost accounting 21. If two or more products share a common process before they are separated, the joint costs should be allocated in a manner that: a., Assigns a proportionate amount of...

Q:

Price variance ppp Volume variance Prist. Company uses a standard costing system In connection with the manufacture of a "one size fit all" article of clothing. Each Mix variance unit of finlahed...

Q:

1. If a company obtains two salable products from the refining of one ore, the refining process should be accounted for as a(n) Select one: a. joint process. b. reduction process. c. extractive...

Q:

If two or more products share a common process before they are separated, the joint costs should be allocated in a manner that: ml7 a Assigns a proportionate amount of the total cost to each product...

Q:

If two or more products share a common process before they are separated, the joint costs should be assigned in a manner that Select one: a . minimizes variations in unit production costs. b ....

Q:

- * Required 1. How much joint costs per batch should be allocated to turpentine and to methanol, assuming that joint costs are allocated based on a physical measure (number of litres at splitoff...

Q:

More Info Cocoa beans processed, 15,300 pounds Costs of processing cocoa beans to splitoff point (including purchase of beans), $41,000 Production Sales Selling Price Separable Processing Costs...

Q:

The Stenback Company produces two products, turpentine and methanol (wood alcohol), by a joint process. Joint costs amount to $144,000 per batch of output. Each batch totals 40,000 litres: 25%...

Q:

Responsibility Center Presentation Imagine you have been selected by your manager to present a training session to a group of new employees. The new hires do not have accounting backgrounds and have...

Q:

A few students would like to start an electronic surfboard business under a company called EBOARDs, Inc. This startup, wants to sell their boards over a period of 3years, before their next generation...

Q:

A company and its union are contemplating changes to the company pension plan. The company representative claims that the average number of years of service for the employees of the company is...

Q:

Given the following CSS code: body { background - color : white; } . name { color : black } Which portion is the rule?

Q:

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

Q:

4. Support and enliven your speech with effective research

Q:

1. Describe the power of public speaking and how preparation eases natural nervousness

Q:

3. Choose an appropriate topic and develop it