Question
The ABCCompany produced three joint products at a joint cost of $130,000. Two of these products were processed further. Production and sales were: Product Weight
The ABCCompany produced three joint products at a joint cost of $130,000. Two of these products were processed further. Production and sales were:
| Product | Weight | Sales | Additional Processing Costs | |||||
| P | 315,000 | lbs. | $ | 271,250 | $ | 215,000 | ||
| Q | 115,000 | lbs. | 45,000 | -0- | ||||
| R | 115,000 | lbs. | 208,750 | 115,000 | ||||
What is the net income of ABCCompany if the estimated net realizable value method of joint cost allocation is used?
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
