Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the course of manufacture of the main Product P, by-products 'A' and 'B' also emerge. The joint expenses of manufacture amount to $1,19,550. All

image text in transcribed

In the course of manufacture of the main Product P", by-products 'A' and 'B' also emerge. The joint expenses of manufacture amount to $1,19,550. All the three products are processed further after separation and sold as per details given below: Main product By-products 'P' 'A' 'B' Sales $90,000 60,000 40,000 Cost incurred after separation $6,000 5,000 4,000 Profit as percentage on sales 25 20 Total fixed selling expenses are 10% of total cost of sales which are apportioned to the three products in the ratio of 20 : 40 : 40. Prepare a statement showing the apportionment of joints costs to the main product and two by-products 15

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advances In Accounting Volume 23

Authors: Philip M J Reckers

1st Edition

0762314257, 9780762314256

More Books

Students also viewed these Accounting questions

Question

Be able to schedule and conduct a performance appraisal interview

Answered: 1 week ago

Question

Know the two most common approaches to appraisal timing

Answered: 1 week ago