Sheffield Corp. has four product lines: sour cream, ice cream, yogurt, and butter. The total...
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Accounting
Sheffield Corp. has four product lines: sour cream, ice cream, yogurt, and butter. The total cost of producing the milk base for the products is $42000, which has been allocated based on the gallons of milk base used by each product. Results for July follow:
Sour Cream
Ice Cream
Yogurt
Butter
Total
Units sold
2000
500
400
2000
4900
Revenue
$9350
$18700
$9350
$18700
$56100
Variable departmental costs
5250
11500
3750
4250
24750
Fixed costs
5000
2000
3000
7000
17000
Net income (loss)
$ (900)
$ 5200
$ 2600
$ 7450
$14350
How much are total joint costs of the products?
a. $17000
b. $41750
c. $24750
d. $14350
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