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First Problem: Second Problem: A company purchases a...

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Accounting

First Problem:

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Second Problem:

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A company purchases a 10,560 -square-foot building for $365,000. The building has two separate rental units. Unit A, which has the desirable location on the corner and contains 2,160 square feet, will be rented for $1.50 per square foot. Unit B contains 8,400 square feet and will be rented for $0.90 per square foot. How much of the joint cost should be allocated to Unit A and to Unit B using the value basis of allocation? Exercise 24-23A (Algo) Assigning joint product costs LO C2 A dairy company processed raw milk for $63,500. This raw milk can be converted into the following types of milk with listed sales values. Use the sales value basis to (1) allocate the total cost of the raw milk to each type of milk and (2) determine the gross profit for each type of milk

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