1 The ABC Company produces three products A, B and X The company uses the physical measures approach for the major products A and B The company uses the production method for the byproduct X The total joint costs are $100,000 Assume the byproduct revenues are for cash and that all byproduct expenses are paid in cash as well Product A 15,000 14,000 Production Sales Selling Price $ Separable manufacturing costs $ Sales commission 1 What is the debit to the entry to record the joint costs 20 00 $ 8 00 $ 2 What is the credit to the entry to record the joint costs 3 What is the amount used for the entry above Product B 20,000 19,700 1 Product X 25 00 $ 10 00 $ $ 1 4 What is the debit to the entry for the estimated NRV of the byproduct produced 1,000 pounds 900 pounds 2 00 per pound 0 50 per pound 0 30 per pound WORK IN PROCESS Choose Choose Choose The ABC Company produces three products A, B and X The company uses the physical measures approach for the major products A and B The company uses the production method for the byproduct X The total joint costs are $100,000 Assume the byproduct revenues are for cash and that all byproduct expenses are paid in cash as well 2) What is the credit to the entry to record the joint costs Choose 3hat is the amount used for the entry above Choose 4) What is the debit to the entry for the estimated NRV of the byproduct produced Choose 5 What is the credit to the entry for the estimated NRV of the byproduct produced Choose 6 What is the amount used for the entry above Choose 7 What is the debit to the entry for the estimated manufacturing cests of the byproduct produced Choose 8hat is the credit to the entry for the estimated manufacturing costs of the byproduct produced Choose 9 What is the amount used for the entry above BYPRODUCT SALES 10 What is the debit for the journal entry for the proceeds of the byproduct sales Choose 11 What is the credit for the journal entry for the byproduct sales Choose 12 What is the amount used for the entry above Choose 13 What is the debit for the journal entry to record the cost of sales Choose 14 What is the credit for the journal entry to record the cost of sales Choose 15 What is the amount used for the entry above Choose 16 What is the debit for the journal entry to record the sales commission Choose s

Question

1 The ABC Company produces three products  A, B and X  The company uses the physical measures approach for the major products A and B  The company uses the production method for the byproduct X  The total joint costs are $100,000  Assume the byproduct revenues are for cash and that all byproduct expenses are paid in cash as well  Product A 15,000 14,000 Production Sales Selling Price $ Separable manufacturing costs $ Sales commission 1 What is the debit to the entry to record the joint costs  20 00 $ 8 00 $ 2 What is the credit to the entry to record the joint costs  3 What is the amount used for the entry above  Product B 20,000 19,700 1 Product X 25 00 $ 10 00 $ $ 1 4 What is the debit to the entry for the estimated NRV of the byproduct produced  1,000 pounds 900 pounds 2 00 per pound   0 50 per pound 0 30 per pound WORK IN PROCESS Choose    Choose    Choose    The ABC Company produces three products  A, B and X  The company uses the physical measures approach for the major products A and B  The company uses the production method for the byproduct X  The total joint costs are $100,000  Assume the byproduct revenues are for cash and that all byproduct expenses are paid in cash as well  2) What is the credit to the entry to record the joint costs  Choose    3hat is the amount used for the entry above  Choose    4) What is the debit to the entry for the estimated NRV of the byproduct produced  Choose    5 What is the credit to the entry for the estimated NRV of the byproduct produced  Choose    6 What is the amount used for the entry above  Choose    7 What is the debit to the entry for the estimated manufacturing cests of the byproduct produced  Choose    8hat is the credit to the entry for the estimated manufacturing costs of the byproduct produced  Choose    9 What is the amount used for the entry above  BYPRODUCT SALES 10 What is the debit for the journal entry for the proceeds of the byproduct sales  Choose    11 What is the credit for the journal entry for the byproduct sales  Choose    12 What is the amount used for the entry above  Choose    13 What is the debit for the journal entry to record the cost of sales  Choose    14 What is the credit for the journal entry to record the cost of sales  Choose    15 What is the amount used for the entry above  Choose    16 What is the debit for the journal entry to record the sales commission  Choose s

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1 The ABC Company produces three products: A, B and X. The company uses the physical measures approach for the major products A and B.

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