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Which the approaches used to allocate joint costs include

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Reference no: EM132771707

Problem 1: The first step in preparing the cost production report is to:

a. Account for the number of physical units

b. Calculate the cost per equivalent unit

c. Assign costs to the items completed and items in ending work in process inventory

d. Account for the amount of product cost

Problem 2: The approaches used to allocate joint costs include

a. Sales value at split off method

b. Net realizable value method

c. Constant gross margin percentage NRV method

d. All of the above

Reference no: EM132771707

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