Urgent. Hello expert, kindly assist me with this Managerial Accounting Assignment. Many thanks. ...
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Accounting
Urgent. Hello expert, kindly assist me with this Managerial Accounting Assignment. Many thanks.
Dairy Fresh makes a variety of dairy products. During June, 45,000 gallons of raw milk were processed at a joint cost of $36,000. This produced 36,000 gallons of skim milk and 4,000 gallons of cream. The cream could be processed further into butter and the skim milk could be processed further into farmer's cheese. Information on these items follows: Assume that the joint cost is allocated to the products based on the physical quantity of output of each product. How much joint cost should be assigned to each product? Assume that the joint cost is allocated to the products based on the physical quantity of output of each product. How much joint cost should be assigned to each product? Skim milk $ Cream $ How much joint cost should be assigned to each product if the relative sales value allocation method is used? Skim milk $ How much joint cost should be assigned to each product if the relative sales value allocation method is used? Cream $ Skimmilk $ Cream $ Which products should be processed further? should be processed further
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