Allocating common costs to joint products by relative sales value. Assume the same facts as in Exercise
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Allocating common costs to joint products by relative sales value. Assume the same facts as in Exercise 6. In addition, assume that the oil sold for $30 per barrel and the gas sold for $3 per mcf. What total cost should be allocated to the oil produced and to the gas produced if relative sales value is to be used as the basis of allocation?
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Cost Accounting Principles And Applications
ISBN: 9780070081529
5th Edition
Authors: Horace R. Brock
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