1. A food processing company incurs joint costs of $200,000 producing two products: Product A sells for $100,000 and Product B sells for $80,000.
   • Requirements:
     • Apply the revenue recognition principle to determine when revenue should be recognized for each product.
     • Allocate joint costs using the sales value method.
     • Prepare a joint cost allocation report with revenue recognition considerations.
     • Recommend pricing strategies for each product based on joint cost allocation and revenue recognition principles.
     • Analyze the impact of revenue recognition on profitability analysis for both products.