Question: Two joint products A and B are produced in a process. Data for the process for the last period are as follows: Common production costs

Two joint products A and B are produced in a process.

Two joint products A and B are produced in a process. Data for the process for the last period are as follows: Common production costs in the period were R12 000. There was no opening inventory. Both products had a gross profit margin of 40%. Common production costs were apportioned on a physical basis. What was the gross profit for product A in the period? a. R2 880 b. R3840 c. R4800

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!

A 30-kg uniform circular plate of radius r is supported by a ball-and socket joint at point A and is at rest in the vertical xy plane when a bullet with a mass of 15 g is fired with the velocity v0 =...

Two joint products A and B are produced in a process. Data for the process for the last period are as follows: Common production costs in the period were $12 000.There was no opening inventory. Both...

Two joint products, A and B are produced in a process. Data for the process for the last period are as follows: \ table [ [ Product , A ( in kg ) , B ( in kg ) ] , [ Sales , 4 8 0 , 3 2 0 ] , [...

The answer is C, but could you explain how to get to this answer? Two Joint produces A and B are produced in a process. Data for the process for the last period (In units) are as follows: Sales...

Please help with assignment 2 MAC2601. assignment attched MAC2601/103/1/2016 Tutorial letter 103/1/2016 Principles of Management Accounting MAC2601 Semester 1 Department of Management Accounting...

Kell Bells is a kmber-processing company that produces two main products: wooden spindles for outdoor railings and wooden baseball bats. The company puts its humber through a common production...

Midwest Rocks receives and produces an order. What is the company's cycle time assuming the following times were measured during production of this order? Process time: 1.6 days Inspection time: 0.70...

Questions 36-44 are based on the following information. What is Kell Bells's projected gross profit if only the 500 packs of spindles are sold? Kell Bells is a humber-processing company that produces...

A chemical product manufacturer, Bramley pic, operates three manufacturing departments. Raw material processed in Department 1 yields two joint products, A and B. Normally 1 litre of input into that...

For information systems projects and initiatives, what would you expect your involvement to be as a business professional?

Obtain the h and g parameters of the two-port in Fig. 19.92. 300 10 50

Chapter 8 focuses on on master cash budgeting. This week's discussion is to express your opinion on what you think is the best method of accounting. Is it the cash method? ( money in , money out,...

what are the factors that shape your organization external competitiveness to recruit and retain employees

identify the behaviour and results which are needed and define the rules which govern how individuals and groups behave;

be understood and accepted by employees as consistent with their values and priorities and be regarded as equitable and competitive.

provide rewards which are equitable, competitive, timely and in an appropriate form;