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Determine the Joint Cost
A company produces three products, Y1, Y2, and Y3 in the similar process. The data below reflects average monthly results as:
Monthly output (kg)
Sales Value at split off (shs.)
Sales Value after Split off
Costs of further processing
The joint costs were Shs.100,000
Assign the joint cost employing the three methods employed to assigned joint costs.
(i) Physical/Measurement/Unit Method
Physical Output: (Kg)
Joint costs allocated
(ii) Constant Gross Margin Rate Method
(iii) Net Realizable Value/Method
Net Realizable Value = Ultimate Sales Value - Separable Costs
Ultimate Sales Value:
Less: Separable Costs
Net Realizable Value:
Proportion on Net Realizable Value
Allocation of Joint Costs:
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