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Standard Company produces 2 products X and Y in a joint cost production process. The following information pertains to December 2023: Product Units Produced Sales
Standard Company produces 2 products X and Y in a joint cost production process. The following information pertains to December 2023: Product Units Produced Sales Value at split-off Point Further Processing Cost per unit Sales Value after further Processing X 1,500 units $6 per unit $ 1 $ 7.50 Y 2,200 units $9 per unit $ 3 $11.00 Based on the above the company decided to sell X after further processing and Y at the split-off point. If total joint cost was $8,000 how much is allocated to product X (round to nearest dollar)
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