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Why is the physical measures method not as satisfactory

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Reference no: EM132593990

(a) Both joint products and by-products arise from a joint production process whereby they are not separately identifiable until after they have emerged from this joint process.

Question (i) A and B are joint product that can be sold immediately after split-off. The following information is available for last period:

No opening inventories. Total joint production costs were RM750,000.

Product            Production units           Sales units            Selling price per unit

A                          14 000                     12 000                        RM10

B                         12 000                        8 000                       RM12

Using the physical unit method, compute the value of the closing inventory of product A and B for the last period.

Question (ii) In your view, why is the physical measures method not as satisfactory as the sales value method of joint cost allocation?

Question (iii) Provide and describe in detail an example of an industry that produces both joint and by-products.

Reference no: EM132593990

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