Product Details:Main Product:Sales Value at Split-off: $500,000Separate Costs after Split-off: $200,000Joint Costs Incurred: $150,000By-Product:Sales Value...
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Accounting
Product Details:
- Main Product:
- Sales Value at Split-off: $500,000
- Separate Costs after Split-off: $200,000
- Joint Costs Incurred: $150,000
- By-Product:
- Sales Value at Split-off: $100,000
- Separate Costs after Split-off: $50,000
- Joint Costs Incurred: $30,000
Requirements:
- Allocate joint costs between the main product and the by-product using the sales value at split-off method.
- Calculate the total cost for each product after allocation.
- Present the results in a detailed table format.
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