Assignment Joint & By-Product Costing

A process produces 3 products A, B and C. Total joint costs were N10,000,000 and outputs, selling prices were;

A. 500,000 kg sold at N30/kg. Additional costs N2,000,000

B. 300,000 kg sold at N40/kg. Additional costs N3,000,000

C. 200,000 kg sold at N23/kg. Additional costs N1,600,000

Use the following methods to apportion the joint costs and calculate the profit percentage:

1. Physicalunit

2. Salesvalue