Sales value and physical value allocation To-Go produces milk and sour cream from a...
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Accounting
Sales value and physical value allocation
ToGo produces milk and sour cream from a joint process. During June, the company produced quarts of milk and pints of sour cream there are two pints in a quart Sales value at splitoff point was $ for the milk and $ for the sour cream. The milk was assigned $ of the joint cost. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar.
a Using the sales value at splitoff approach, determine the total joint cost for June. $
b Assume, instead, that the joint cost was allocated based on the number of quarts produced. What was the total joint cost incurred in June? $
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