Sales value and physical value allocation To-Go produces milk and sour cream from a joint...
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Sales value and physical value allocation To-Go produces milk and sour cream from a joint process. During June, the company produced 240,000 quarts of milk and 190,000 pints of sour cream (there are two pints in a quart). Sales value at split-off point was $377,400 for the milk and $177,600 for the sour cream. The milk was assigned $125,800 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 split-off approach, determine the total joint cost for June. Answer: 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? Answer:
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