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Calculate the joint cost allocated to Brand W

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Reference no: EM133007750

Question - Love Inc., manufactures four products: Brand W, X, Y and Z. These products, each with significant sales value, are produced simultaneously. The following information is utilized in order to allocate the joint costs under a process cost system:

1. Brand W, X, Y and Z emerge at the end of processing in Department 1. Brand Y is processed further in in Department 2 and then sold

2. Final market values for all the products total P550,000

3. The costs of the finished products total P375,000

4. Additional processing costs in Department 2 total P50,000

5. Percentage of the final total market value of all the products: Brand W: 35%, Brand X: 15%, Brand Y: 30% and Brand Z: 20%.

Required - Calculate the joint cost allocated to Brand W using the market value method?

Reference no: EM133007750

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