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A production process has joint costs of $12,000 for the input of 1,000 kgs of material.
Two products are produces from this:
Product A: 600 kgs. Selling price = $25/unit. Separate costs = $4,000
Product B: 400 kgs. Selling price = $40/unit. Separate costs = $7,000
Calculate the inventory value of the production using
(a) Weigh to apportion the joint costs
(b) Net realisable value to apportion the joint costs
Please help me
I explain how to answer this in my free lectures on joint cost process costing.
Please watch the lectures and then ask again about anything you are still not clear about.