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What the amount of joint cost allocated to Bolts

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Reference no: EM133031862

Problem - Cheyenne Enterprises manufactures Nuts and Bolts from a Joint process (cost = $98,000). Five thousand pounds of Nuts can be sold at split-off for $15 per pound; ten thousand pounds of Bolts can be sold at split-off for $10 per pound. For product costing purposes Cheyenne allocates joint costs using the relative sales value method. What the amount of joint cost allocated to Bolts?

Reference no: EM133031862

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