Answered: Buling Inc. has two joint products,…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 13P: Venezuela Oil Inc. transports crude oil to its refinery where it is processed into main products...

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Buling Inc. has two joint products, Tagiptip and Kugan, and uses the net realizable value method of allocating joint costs. The total joint costs for May amounted to P60,000. During the month, additional processing costs after split-off were P32,000 for Tagiptip and P48,000 for Kugan. Lego produced 16,000 units of Tagiptip and 8,000 units of Kugan during the month. The sales value of Tagiptip is P100 per unit and for Kugan is P200 per unit. The portion of Joint costs allocated to Kugan during the month is:

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