Serene Dairy Has 4 Product Lines: Sour Cream, Ice Cream

question 3

Multiple Choice

Serene Dairy has 4 product lines: sour cream, ice cream, yogurt, and butter.The total costs of producing the milk base for the products is $53,000 which has been allocated based on litres of milk base used by each product.Results of July follow: How much are total joint costs of the products?

• A)$33,000
• B)$13,500
• C)$53,000
• D)$12,500

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Definitions:

LLCs

Limited Liability Companies; a flexible form of enterprise that blends elements of partnership and corporate structures, offering limited liability protection to its owners.

Limited Partnership Origin

The beginning or establishment of a partnership structure where there are one or more general partners with unlimited liability, and one or more limited partners with liability limited to the amount of their investment.

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere.

Limited Partnership

A business structure where one or more partners have limited liabilities and responsibilities, and there is at least one general partner with unlimited liability.