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Bubble Corporation manufactures two products, I and II, from a joint process. The single production costs $4,000 and outcomes in 100 units of I and 400 units of II. To be ready for sale, both products should be processed further, incurring separable costs of $1 per unit for I and $2 per unit for II. The market price for Product I is $20 and for Product II is $15.

Required:

a) Allocate joint production costs to each and every product by using the physical unit's method.

b) Assign joint production costs to each and every product by using the net realizable value method.

c) Assign joint production costs to each and every product by using the constant gross margin percentage method.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M919320

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