A factory producing article X also produces a by- product Y which is further processed into finished product. The joint cost of manufacturing is given below: Material RO 8,000 Labor RO 4,000 Overheads RO 2,000 Subsequent costs are given below: Y Material RO 2,000 RO 4,000 Labor RO 4,000 RO 3,000 Overheads RO 2,400 RO 2,600 Sales value for X is RO 20,000 and Y is RO 30,000 Estimated profits on selling prices are 40% for X and 30% for Y. Assume that selling and distributing expenses are in proportion of subsequent cost of material. a. Show how you would apportion joint cost of manufacture. b. Prepare a statement showing cost of production of X and Y. Calculations should be made to the nearest riyal. After preparing the necessary statements, MCQs 4,5,6,7 and 8 should be answered. Flag question What is the amount of labor joint cost apportioned to main product? O a. RO 933 O b. RO 543 O c. RO 1,500 O d. RO 3,067 What is the amount of overhead joint cost apportioned to main product? a. RO 1,533 O b. RO 683 c. RO 1,200 O d. RO 467 What is the amount of material joint cost apportioned to by product? O a. a. RO 6,133 b. RO 2,000 O C. RO 1,267 O d. RO 1,867 What is the amount of overhead joint cost apportioned to by product? a. RO 729 O b. RO 1,533 O c. RO 1,000 O d. RO 467 What is the amount of material joint cost apportioned to main product? a. RO 6,133 O b. RO 1,867 O c. RO 1,086 O d. RO 1,000