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CoursHeroTranscribedText: Joint Product Costing-Market Value Method; By-Product Costing-Market Value (Reversal Cost) Method. Martens Company manufactures...

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CoursHeroTranscribedText: Joint Product Costing-Market Value Method; By-Product Costing-Market Value (Reversal Cost) Method. Martens Company manufactures joint products X and Y as well as by-product Z. Cumulative joint cost data for the period show $208,000, representing 20,000 completed units processed through the Refining Department at an average cost of $10.20. Costs are assigned to X and Y by the market value method, which considers fur- ther processing costs in subsequent operations. To determine the cost allocation to Z, the market value (reversal cost) method is used. Additional data: Z X Y Quantity processed. 2,000 units 8,000 units 10,000 units Sales price per unit ...... $9 $20 $25 Further processing cost per unit. 2 5 7 Marketing and administrative expenses per unit Operating profit per unit .. N- Required: Compute the joint cost allocated to Z, then the amount to X and Y. cs Scanned with CamScanner

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