The Tri Ken Corporation incurred $3,000 to produce the following products in a joint production...
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Accounting
The Tri Ken Corporation incurred $3,000 to produce the following products in a joint production process
|
| Product T | Product K |
| Quantity produced and processed beyond splitoff point | 130 units | 390 units |
| Separable costs | $1,000 | $1,460 |
| Selling price of a fully processed unit | $40 | $10 |
Required:
Compute the amount of joint costs using:
1. physical measures method
2. sales value at split off method
3. NRV method
4. Constant gross margin method
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