1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jonny [76]
2 years ago
10

The preferred approach to allocate joint costs to products is the value basis, which allocates a joint cost in proportion to the

sales value of the output produced by the process at the split-off point. true or false
Business
1 answer:
ddd [48]2 years ago
6 0

Allocation of joint costs in proportion to the value of the output of the sales which were produced in the process during at the split-off point is a preferred approach.

<h3>What are joint costs?</h3>

Joint costs involve the benefit of more than one product, and the separation of the costs of such products is impossible as the benefits related thereto are also joint.

One of the best examples of joint costs is in a condition when a cattle-owner feeds both the flock of sheep and cattle of cows at the same time. One cannot differentiate between the separate costs allocated.

Hence, it may be said that value basis is the most appropriate method for the purpose of allocation of joint costs being incurred in the proportion as it may be.

Learn more about joint costs here:

brainly.com/question/13537893

#SPJ1

You might be interested in
Crane Enterprises reported cost of goods sold for 2020 of $1,290,700 and retained earnings of $4,708,100 at December 31, 2020. C
Grace [21]

Answer:

  • Adjusted Cost of Goods sold = $1,206,860
  • Adjusted Retained Earnings = $4,675,190

Explanation:

An overstated opening inventory would overstate Cost of Goods sold. The overstatement should therefore be removed from the Cost of goods sold.

An overstated closing inventory would understate Cost of Goods sold. The overstatement should therefore be added to the Cost of Goods sold.

Adjusted Cost of Goods sold 2020 = Cost of Goods sold + 2020 ending inventory - 2019 opening inventory

= 1,290,700 + 32,910 - 116,750

= $1,206,860

Adjusted Retained earnings

The retained earnings would have to be adjusted for the overstatement of the current inventory by $32,910 because this understated Cost of Goods sold.

= Retained earnings - Overstatement of inventory

= 4,708,100 - 32,910

= $4,675,190

8 0
3 years ago
if you're interested in working for a specific company what type of job site should you look at for opening
ollegr [7]
The answer is <span>c.<span>Company site
Hope this helps!</span></span>
4 0
3 years ago
Read 2 more answers
An improvement in a country's balance of payments means a decrease in its balance of payments deficit, or an increase in its sur
FrozenT [24]

Answer:

Should be D (sometimes harmful).

7 0
3 years ago
Gainsharing plans differ from profit-sharing plans in that:A. gainsharing plans use organization-wide performance parameters.B.
andriy [413]

The correct answer is choice A.

Gainsharing is normally when a business measures performance, and through a pre-determined formula, shares the savings with all employees.

4 0
3 years ago
what is the present value of $500 recieved at the end of each year for 15 years? ( assume thatt the first patyment is recieved a
Eva8 [605]

Answer:

$3800

Explanation:

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow fromyear 1 to 15 = 500

I = 10%

PV = 3800

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

4 0
3 years ago
Other questions:
  • Morrison Foods has decided to introduce a new line of turkey products to the American consumer. Turkey steaks resemble beefsteak
    15·1 answer
  • What effect will this adjustment have on the accounting records?
    8·1 answer
  • In 2011 a georgia woman named catherine griffin was indicted by a federal grand jury on charges of computer fraud by accessing i
    14·1 answer
  • Problem 10-3 eastman publishing company is considering publishing an electronic textbook about spreadsheet applications for busi
    6·1 answer
  • Austin is a self-employed accountant who has been certified in his state. He mostly prepares financial records for small busines
    9·2 answers
  • Your company uses social media for marketing purposes. How does your company benefit by communicating with customers through soc
    15·2 answers
  • A flour manufacturer is more likely to use process costing than job-order costing whereas a manufacturer of customized leather j
    15·1 answer
  • What is considered a drawback of a larger school? BRAINLIEST to the right answer
    5·1 answer
  • Select the correct answer.
    10·1 answer
  • In macroeconomics, the connection from inputs to outputs for the entire economy is called _______________.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!