Solution-Find and prepare an income statement for the two

Find and prepare an income statement for the two products

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Reference no: EM132753527

Robert Inc. manufactures slabs of granite for making countertops. As a byproduct, there are broken pieces of granite, which they grind into gravel and sell separately. The following information is available:

Slabs Gravel

Sales    10,000 tons    1,000 tons
Sales price per ton $800                $20
After split-off cost per ton $50                  $3
Joint cost ----------$2,000,000----------

Required:

Problem 1: Prepare an income statement for the two products using the net realizable value method.

Reference no: EM132753527

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Find and prepare an income statement for the two products

Reference no: EM132753527

Reference no: EM132753527

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