Free Citation Generato X Messenger how to get free questic X UNIT-V-Joint-and-By- x Homework Help - Q&u x Doing Business in the X coursehero.com/u/file/117675020/UNIT-V-Joint-and-By-product-costingpdf/?justUnlocked=1#question Report Ask a Tutor More New Get step-by-step explanations, verified by experts. Find Textbook Solutions Name: Course: Activity 1- Unit V - Joint and By-Product Costing 1. Marina company produces Products N, P and R and a by-product, XY, all of which are produced from a common process. Two of this products were processed further to be salable. The following 39 H ? Help Type here to search Bi is available: PRODUCTS Units Produced N 14,000 P R XY Units sold 12,000 16,000 13,000 10,000 2,000 8,000 2,000 Sales value at split off point P 282,000 P 294,000 174,000 Additional Processing costs Final Sales value P 42,000 None P 25,000 None P 324,000 P 294,000 P 204,000 P 4,000 The total joint costs before separation is P 550,000. REQUIRED: A. Allocate the joint costs if by-products are recognized when sold and treated as (1) other income; (2) reduction from the cost of the main products using: 1. Physical output method 2. Sales value at split-off point method 3. Net-Realizable value Method (Adjusted sales value) B. Prepare the entry to record the sale of by-products if by products are recognized when sold: a) treated as other income b) treated as a reduction from the cost of the main products. C. Determine the cost to be allocated to by-products if by-products are recognized when produced, assuming additional processing costs of P 1,000 for the by-products to be salable and selling expenses of P 300 were incurred and desired profit of P 700; using: a) Net realizable value b) Reversal method D. Using req. C, prepare the necessary journal entries, including the sale of the by-product. 1 30C Light rain 4:24 pm (4) ENG 29/11/2021