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Underwood Food Corporation makes two products from soybeans: cooking oil and cattle feed. From a standard batch of 1 0 0 , 0 0 0
Underwood Food Corporation makes two products from soybeans: cooking oil and cattle feed. From a standard batch of pounds of soybeans, Underwood produces pounds of cooking oil and pounds of cattle feed. Producing a standard batch costs $ The sales prices per pound are $ for cooking oil and $ for cattle feed. Required a Allocate the joint product cost to the two products using weight as the allocation base. b Allocate the joint product cost to the two products using market value as the allocation base.
Underwood Food Corporation makes two products from soybeans: cooking oil and cattle feed. From a
standard batch of pounds of soybeans, Underwood produces pounds of cooking oil and
pounds of cattle feed. Producing a standard batch costs $ The sales prices per pound are
$ for cooking oil and $ for cattle feed.
Required
a Allocate the joint product cost to the two products using weight as the allocation base.
b Allocate the joint product cost to the two products using market value as the allocation base.
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