Homework Help is Here – Start Your Trial Now!
Business
Accounting
Michelle Company produces joint Products A and B from a process that also yields by-product Y. The by-product require additional processing before it can be sold. The cost assigned to the by-product is its market value minus additional costs incurred after split-off. Information concerning a batch produced in January, 2016 at a joint cost of P40,000 is as follows: UNITS MARKET COSTS AFTER PRODUCT SPLIT-OFF P.4,500 3,500 1,000 9. How much of the joint cost should be allocated to the joint products? PRODUCED 800 700 VALUE P 44,000 32,000 4,000 A В 500 P 35,000 b. а. P 36,000 P 37,000 d. P 39,000

Michelle Company produces joint Products A and B from a process that also yields by-product Y. The by-product require additional processing before it can be sold. The cost assigned to the by-product is its market value minus additional costs incurred after split-off. Information concerning a batch produced in January, 2016 at a joint cost of P40,000 is as follows: UNITS MARKET COSTS AFTER PRODUCT SPLIT-OFF P.4,500 3,500 1,000 9. How much of the joint cost should be allocated to the joint products? PRODUCED 800 700 VALUE P 44,000 32,000 4,000 A В 500 P 35,000 b. а. P 36,000 P 37,000 d. P 39,000

Principles of Cost Accounting
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...
See similar textbooks
icon
Related questions
Question

PLEASE SHOW YOUR SOLUTIONS. ASAP THANKS. 

#9

Michelle Company produces joint Products A and B from a process that also yields a by-product Y. The by-product require additional processing before it can be sold. The cost assigned to the by-product is its market value minus additional costs incurred after split-off. Information concerning a batch produced in January, 2016 at a joint cost of P40,000 is as follows: COSTS AFTER UNITS PRODUCED 800 700 MARKET SPLIT-OFF P.4,500 3,500 1,000 9. How much of the joint cost should be allocated to the joint products? PRODUCT VALUE P 44,000 32,000 4,000 A 500 Р 35,000 Р36,000 P 37,000 Р 39,000 а. b. d.
Transcribed Image Text:Michelle Company produces joint Products A and B from a process that also yields a by-product Y. The by-product require additional processing before it can be sold. The cost assigned to the by-product is its market value minus additional costs incurred after split-off. Information concerning a batch produced in January, 2016 at a joint cost of P40,000 is as follows: COSTS AFTER UNITS PRODUCED 800 700 MARKET SPLIT-OFF P.4,500 3,500 1,000 9. How much of the joint cost should be allocated to the joint products? PRODUCT VALUE P 44,000 32,000 4,000 A 500 Р 35,000 Р36,000 P 37,000 Р 39,000 а. b. d.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Decision to Sell before or after additional processing
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS