Exercise 7 17 Allocating Joint Costs LO 3 The American Produce Company purchased a truckload of cantaloupes (weighing 4,000 pounds) for $800 American Produce separated the cantaloupes into two grades superior and economy The superior grade cantaloupes had a total weight of 3,200 pounds, and the economy grade cantaloupes totaled 800 pounds American Produce sells the superior grade cantaloupes at $0 35 per pound, and the economy grade ones at $0 15 per pound Required Allocate the $800 cost of the truckload to the superior grade and economy grade cantaloupes using the physical quantity method and the relative sales value method

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Exercise 7 17  Allocating Joint Costs  LO 3  The American Produce Company purchased a truckload of cantaloupes (weighing 4,000 pounds) for $800  American Produce separated the cantaloupes into two grades  superior and economy  The superior grade cantaloupes had a total weight of 3,200 pounds, and the economy grade cantaloupes totaled 800 pounds  American Produce sells the superior grade cantaloupes at $0 35 per pound, and the economy grade ones at $0 15 per pound  Required Allocate the $800 cost of the truckload to the superior grade and economy grade cantaloupes using the physical quantity method and the relative sales value method

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Exercise 7-17. Allocating Joint Costs [LO 3] The American Produce Company purchased a truckload of cantaloupes (weighing

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Governmental and Nonprofit Accounting

Exercise 7-17. Allocating Joint Costs [LO 3] The American Produce Company purchased a truckload of cantaloupes (weighing

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Governmental and Nonprofit Accounting

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