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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Process costing- joint product
Two products (J and K) are created from a process. There are no opening inventory of finished goods. Joint product costs were $630,000.
Product Closing inventory (units) Sales (units)
J 1000 11,000
k 4000 24,000
Using physical basis for apportionment of joint production costs, what was the value of closing inventory of J?
i have worked as follows But didnt get the answer:
12/24* $630000= $270000 of J
270000/12000= $22.5 per unit c
closing inventory J= 1000*$22.5 = $22500
[please help me, where does the fault lies?]
You have posted the same question in two different forums – I have answered your other posting of the question.
Please do not post the same question in different forums.