Allocate joint costs and determine by product values Joint Production Details Total Joint Costs ($) Main Product Units Produced By Product Units Produced Joint Costs $600,000 20,000 units 10,000 units Requirements Allocate joint costs to the main product and by product using the physical units method Determine the cost per unit for the main product and by product Discuss the treatment of by products in costing and financial reporting

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Allocate joint costs and determine by-product values. Joint Production Details Total Joint Costs ($) Main Product Units Produced By-Product Units Produced Joint Costs $600,000 20,000

Allocate joint costs and determine by-product values.

Joint Production Details	Total Joint Costs ($)	Main Product Units Produced	By-Product Units Produced
Joint Costs	$600,000	20,000 units	10,000 units

Requirements:

Allocate joint costs to the main product and by-product using the physical units method.

Determine the cost per unit for the main product and by-product.

Discuss the treatment of by-products in costing and financial reporting.

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