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9. The Mallak Company produced three joint products at a joint cost of $120,000. Two of these products were processed further. Production and sales were:
9. The Mallak Company produced three joint products at a joint cost of $120,000. Two of these products were processed further. Production and sales were:
Product | Weight | Sales | Additional Processing Costs | |||||
P | 310,000 | lbs. | $ | 262,500 | $ | 210,000 | ||
Q | 110,000 | lbs. | 40,000 | -0- | ||||
R | 110,000 | lbs. | 197,500 | 110,000 | ||||
What is the net income of Mallak Company if the estimated net realizable value method of joint cost allocation is used?
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