The following information relates to a joint production process for three products, with a total joint...
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The following information relates to a joint production process for three products, with a total joint production cost of $180,000. There are no separable processing costs for any of the three products. Sales Value at Split-off $ 252, 000 72,000 36,800 5 360,000 Units at Product Split-off 350 1,050 2,100 1 3,500 Assume that the total sales value at the split-off point for product 1 is $108,000 instead of $252.000 and the sales value of product 3 is $3,600 instead of $36,000 Assume also that, because of its relatively low sales value, the firm treats product 3 as a by-product and uses the asset recognition method for accounting for by-products. What amount of joint cost would be allocated to the products using the sales value at split-off method? Allocated Joint Cost Product 2 3 The following information relates to a joint production process for three products, with a total joint production cost of $180,000. There are no separable processing costs for any of the three products. Sales Value at Split-off $ 252, 000 72,000 36,800 5 360,000 Units at Product Split-off 350 1,050 2,100 1 3,500 Assume that the total sales value at the split-off point for product 1 is $108,000 instead of $252.000 and the sales value of product 3 is $3,600 instead of $36,000 Assume also that, because of its relatively low sales value, the firm treats product 3 as a by-product and uses the asset recognition method for accounting for by-products. What amount of joint cost would be allocated to the products using the sales value at split-off method? Allocated Joint Cost Product 2 3
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