Problem $22-5$BA Allocation of joint costs C$2$

Tampa Tomatoes reports the following sales data for the year ended December $31.$

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The company incurred the following joint costs for the year.

Land preparation, seeding, and

cultivating

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Harvesting, sorting, and grading

Required

Use the value basis to allocate joint costs to the three grades of tomatoes.

Compute gross profit for each of the three grades of tomatoes.

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