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BWZ Inc Produces Four Main Products from a Single Process with with Joint

Question 141

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BWZ Inc. produces four main products from a single process with joint costs of $8,000. BWZ had no beginning inventories. Additional data on the four products appear below:
BWZ Inc. produces four main products from a single process with joint costs of $8,000.  BWZ had no beginning inventories.  Additional data on the four products appear below:   Assume BWZ allocates joint costs using the physical output method.  Several terms and several numbers are listed below.   Match each term with the number it best describes.  Each numbered item has only one correct answer.  Each lettered item may be used once, more than once, or not at all.
Assume BWZ allocates joint costs using the physical output method. Several terms and several numbers are listed below. Match each term with the number it best describes. Each numbered item has only one correct answer. Each lettered item may be used once, more than once, or not at all.

Premises:
Total cost of M2
M2's product gross margin
M1's product gross margin
Total joint cost allocated to M1
Total cost of M4
M3's product gross margin
M4's product gross margin
Total cost of M1
Total joint cost allocated to M3
Total cost of M3
Responses:
$2,000
$3,800
$5,000
$2,600
$1,200
$1,600
$3,700
$1,000
$3,400
$7,500

Correct Answer:

Total cost of M2
M2's product gross margin
M1's product gross margin
Total joint cost allocated to M1
Total cost of M4
M3's product gross margin
M4's product gross margin
Total cost of M1
Total joint cost allocated to M3
Total cost of M3
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