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A. The selling price of a by-product.
B. Whether one of the joint products should be discontinued.
C. The variance between budgeted and actual common costs.
D. The inventory cost of joint products for financial reporting.
Accounting Cost Accounting CMA
Question added by Deleted user
Date Posted: 2015/02/20
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- 2 Answers
by Mir Mujtaba Ali , Internal Audit Manager , Confidential
7 years
ago
Yes, the right answer is D
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by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI
INTERNATIONAL TRADING EST.
7 years ago
Answer option D >>>>>>>>>>>>>> The inventory cost of joint products for financial reporting.
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The physical units method assumes that the types of units are comparable and similar in value. If not, it's really a poor method.
Say we were making bottles of diet soda ... to keep it simple, say we had 3 flavors: cola, orange and root beer. The sales value of each type is the same, let's say $2 each.
We make a production run of 30,000, 10,000 of each flavor at a cost of $3,000.
Lets do the physical units method. Each product has 1/3 of the units and gets 1/3 of the cost, or $1,000.
Now let's use the sales value. Each product would have a sales value of $2*1,000 or $2,000. They would have 1/3 of the sales value and thus, the same allocation as the physical units.
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