Physical Quantities Method: Questions (a) and (b) are based on Vreeland, Inc., which manufactures products X. Y,
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Physical Quantities Method: Questions
(a) and
(b) are based on Vreeland, Inc., which manufactures products X. Y, and Z from a joint process. Joint product costs were $60,000. Additional information is provided below.
a. Assuming that joint product costs are allocated using the physical quantities (units produced) method, what were the total costs of product X (including $9,000 if processed further)?
(1) $27,000. (2) $29,000. (3) $33,000. (4) $39,000.
b. Assuming that joint product costs are allocated using the net realizable value method, what were the total costs of product Y (including the $7,000 if processed further)?
(1) $27,000. (2) $28,000. (3) $28,350. (4) $32,200.
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