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3. Fun-fan Company manufactures three products - A, B, and C - as a result of a joint process. During October, joint processing costs totaled
3. Fun-fan Company manufactures three products - A, B, and C - as a result of a joint process. During October, joint processing costs totaled P288.000. Details regarding each of the three products are: Product A Product B 1,000 800 Product C Units produced Units sold 3,000 5,000 2,500 4,300 Further processing costs P 25,000 P 60,000 P 105,000 Sales price per unit P 100 P 80 P 50 Required: Assuming no finished goods inventory beginning and using the (1) market value method and (2) weighted average method, compute the following: a. Allocated joint cost of each product. b. Total cost of each product. c. Cost per unit of each product. d. Cost of finished goods ending inventory. e Gross profit for each product and in total
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