Question

The amount of joint costs allocated to product X using the sales value at split-off method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):

Answer 1

The amount of joint costs allocated to product X using the sales value at the split-off method is D. $67,606.

What are joint costs?

In manufacturing industries with multiple products, some joint costs can be incurred for the multiple products.

Under this situation, it is at the split-off point, that the costs can be separately attributed to single products.

Question Completion and Calculations:

Product       Units Produced   Sales Value     Sales Value          Additional

                                                at Split Off    Further Processing      Costs

X                       6,000              $ 40,000            $ 80,000             $1,200

Y                       3,000                  15,000                40,000              3,000

Z                        1,000                  16,000               30,000               1,500

Total               10,000               $ 71,000           $ 170,000            $5,700

Joint production costs for the year were $120,000.

Join costs allocated to Product X = $67,606 ($40,000/$71,000 x $120,000)

Answer Options:

A. $25,352.

B. $20,341.

C. $33,687.

D. $67,606.

Thus, the amount of joint costs allocated to product X using the sales value at the split-off method is D. $67,606.

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