Solution-Compute the total amount of joint costs

Compute the total amount of joint costs

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Reference no: EM132797139

Question - AAA Inc. is conducting a joint process which results to three products. The following production data were provided by AAA Inc. for the current period:

Product Name	Units Produced	Selling Price per Unit at Split-off
Ace	10,000	40
Bat	15,000	20
Can	25,000	12

Additional data for the period were provided:

All the Ace items were sold for a gross profit of P100,000.

The joint costs were allocated using the physical method.

1. Compute the total amount of joint costs.

2. Compute the gross profit/(loss) if all the Bat items are sold in the current year.

3. Assuming the joint costs are fixed, what is the joint cost allocated to Can items using the relative sales value method.

Reference no: EM132797139

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Compute the total amount of joint costs

Reference no: EM132797139

Reference no: EM132797139

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