Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $150,000. The

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Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $150,000. The sales value at split-off was $162,000 for 1,200 units of Kappa and $63,000 for 1,800 units of Lambda.

Required

a. What joint costs are allocated to the two products using the net realizable value at split-off approach?

b. What joint costs are allocated to the two products using the physical quantities method?

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Fundamentals Of Cost Accounting

ISBN: 9781264100842

7th Edition

Authors: William Lanen

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Question Posted: Aug 26, 2022 12:26 AM

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Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $150,000. The

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a The net realizable value method allocates joint costs in proportion to the net realizable valu...View the full answer

Fundamentals Of Cost Accounting

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