General chemical produced 10000 gallons of greon and 20000, Ask an Expert

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General Chemical produced 10,000 gallons of Greon and 20,000 gallons of Baron. Joint costs incurred in producing the two products totaled $7,500. At the split-off point, Greon has a market value of $6.00 per gallon and Baron $2.00 per gallon. What portion of the joint costs should be allocated to Greon if the basis is market value at point of separation?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9946832

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