Purple Paper Company processes wood pulp into two products.During July the joint costs of processing were $50,000.Production and sales value information for the month were as follows:
Paper sells for $2.71 a kilogram and cardboard sells for $3.10 a kilogram.There were no beginning or ending inventories for July.Required:
1.Determine the amounts to be allocated to each product using the:

Question

Purple Paper Company processes wood pulp into two products.During July the joint costs of processing were $50,000.Production and sales value information for the month were as follows:
  Paper sells for $2.71 a kilogram and cardboard sells for $3.10 a kilogram.There were no beginning or ending inventories for July.Required:
1.Determine the amounts to be allocated to each product using the:

Quizplus · Accepted Answer

The Answer of Purple Paper Company processes wood pulp into two products.During July the joint costs of processing were $50,000.Production and sales value information for the month were as follows:
  Paper sells for $2.71 a kilogram and cardboard sells for $3.10 a kilogram.There were no beginning or ending inventories for July.Required:
1.Determine the amounts to be allocated to each product using the:

Purple Paper Company Processes Wood Pulp into Two Products