Use the Following Information for the Next 4 Questions

question 81

Multiple Choice

Use the following information for the next 4 questions.
A joint process has total costs of $1,200 and yields 50 units each of two main products and 10 units of by-product that can be sold for $2.50 each.
-Under the net realizable value approach to accounting for by-products, what is the per unit cost of a main product if the physical output method of allocating joint costs is used?

• A) $12.00
• B) $24.00
• C) $11.75
• D) $23.50

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Definitions:

Standard Deviation

is a statistical measure that quantifies the amount of variation or dispersion of a set of values around the mean (average) value.

Standard Score

A score that has been transformed to fit a given mean and standard deviation, facilitating the comparison across different tests or assessment measures.

Internal Consistency Reliability

A measure of the extent to which items on a test measure the same construct or characteristic.

Ratio Scale

A scale of measurement that has a meaningful zero point and equal intervals and thus can be manipulated by all mathematical principles.