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Required information [The following information applies to the questions displayed below.] The following information relates to a joint production process for three products, with a
Required information [The following information applies to the questions displayed below.] The following information relates to a joint production process for three products, with a total joint production cost of $180,000. There are no separable processing costs for any of the three products. ssume that the total sales value at the split-off point for product 1 is $108,000 instead of $252,000 and the sales value of product 3 3,600 instead of $36,000. Assume also that, because of its relatively low sales value, the firm treats product 3 as a by-product and ses an asset recognition method (the NRV method) for accounting for by-products. What amount of joint cost would be allocated to he products using the sales value at split-off method
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