Pam Inc. produces joint products O, P, and Q from a joint process. Information concerning...
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Accounting
Pam Inc. produces joint products O, P, and Q from a joint process. Information concerning a batch produced in May at a joint cost of $90,000 was as follows
| After Split - Off | |||
| Product | Units Produced | Additonal Costs | Market Values |
| O | 1,400 | $22,000 | $70,000 |
| P | 3,200 | 16,000 | 60,000 |
| Q | 6,400 | 4,000 | 8,000 |
Required:
(1) Allocate the joint costs to the joint products using the physical measures method.
(2) Allocate the joint costs to the joint products using the net realizable method.
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