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Bismite Corporation purchases trees from Cheney lumber and processes them up to the split -...

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Accounting

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Bismite Corporation purchases trees from Cheney lumber and processes them up to the split - off point where two products (paper and pencil casings) are obtained. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October: The cost of purchasing 310 trees and processing them up to the split - off point to yield 170,000 sheets of paper and 170,000 pencil casings is $12,000. Bismite's accounting department reported no beginning inventory. A. $17,000 B. $16,200 C. $25,500 D. $25,275

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