Accounting · Cost Accounting
Two products P and Q are created from a joint process and can be sold immediately after split-off. There are no opening inventories and no work-in-progress. The total joint production costs are $778,000. Production and sales data for the last period are as follows: Product P: Production = 12,000 units; Sales = 10,000 units; Selling price = $10/unit Product Q: Production = 10,000 units; Sales = 8,000 units; Selling price = $12/unit Using the sales value at split-off method of apportioning joint production costs, what was the value of the closing inventory of product Q?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$311,200
- 2$155,600
- 3$77,800✓
- 4$64,833
Correct answer
$77,800
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