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Probability, Normal Distribution, Area is missing, and there is 2 to 4 marks questions in exam tests.
Sales value of production
W (12,000 units × $10) $120,000
X (10,000 units × $12) $120,000
Joint production costs will be apportioned equally between the two products as the sales
value of production is the same for each product.
Joint production costs allocated to X = $776,160/2 = $388,080
Value of closing inventory =
2,000/10,000 × $388,080 = $77,616
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