mcq16 - Which of the following is NOT a reason to use the...

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Which of the following is NOT a reason to use the sales value at splitoff method: simplicity no anticipation of subsequent management decisions measurement of the value of the joint products at the splitoff point availability of a common basis to allocate joint costs to products All of these are reasons to use the sales value at splitoff method. Question 2 0.1 points Save Which of the following is a reason to allocate joint costs? rate regulation requirements, if applicable cost of goods sold computations insurance settlement cost information requirements All of these answers are correct. Question 3 0.1 points Save Answer the following questions using the information below: Yakima Manufacturing purchases trees from Cascade Lumber and processes them up to the splitoff point where two products (paper and pencil casings) are obtained. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of November: The cost of purchasing 50 trees and processing them up to the splitoff point to yield 30,000 sheets of paper and 30,000 pencil casings is $1,500. Yakima's accounting department reported no beginning inventories and an ending inventory of 1,000 sheets of paper. What is the sales value at the splitoff point for paper? $120 $1,160 $1,200 $1,950 Question 4 0.1 points Save Answer the following questions using the information below: The Morton Company processes unprocessed goat milk up to the splitoff point where two products, condensed goat milk and skim goat milk result. The following information was collected for the
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month of October: The costs of purchasing the 65,000 gallons of unprocessed goat
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This note was uploaded on 08/28/2010 for the course ACCTG 101 taught by Professor Smith during the Spring '10 term at Alabama State University.

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mcq16 - Which of the following is NOT a reason to use the...

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