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Compute the total production cost for each product

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Miller Company manufactures three products, A,B and C from a joint process. The joint cost for January totaled Rs. 100,000. Additional January information follows

Product                 Quantity         Processing Cost after Split-Off                 Ultimate Market Value

A                            3,000                   Rs. 20,000                                     Rs. 60,000

B                             4,000                       Rs. 30,000                               Rs. 110,000

C                              3,000                        Rs. 50,000                              Rs. 90,000

Required:

Question 1. Compute the total production cost for each product using average unit cost method.

Question 2. Compute the total production cost for each product using the market value method

Reference no: EM132611253

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