Doberman Company Manufactures Three Products from a Joint Process Assuming the Relative- Sales- Value Method of Allocating Joint Costs

question 80

Multiple Choice

Doberman Company manufactures three products from a joint process. Joint costs for the year amounted to $250,000. The following data are also available: $$\begin{array}{l}&&\text { Sales } V \text { alue at }\\\text { Product } & \text { Units Produced } & \text { Split- off } \\\mathrm{X} & \mathbf{5 , 0 0 0} & \$ 70,000 \\\mathrm{Y} & 3,000 & \$ 30,000 \\\mathrm{Z} & 2,000 & \$ 100,000\end{array}$$ Assuming the relative- sales- value method of allocating joint costs, the amount of joint costs allocated to product Y would be:

• A) $37,500
• B) $250,000
• C) $30,000
• D) $75,000

Comprehend the professional standards and liabilities associated with negligence and professional conduct in accounting.

Identify the conditions under which accountants can be held liable to third parties and understand the scope of accountant-client privilege.

Describe the elements of and remedies for breach of contract in the context of accounting services.

Understand the implications of the Sarbanes-Oxley Act on the accounting profession and regulatory compliance.

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Definitions:

CAD

Coronary Artery Disease, a condition involving the narrowing or blockage of the coronary arteries that can lead to heart attack.

MI

Myocardial Infarction, commonly known as a heart attack, occurs when blood flow to part of the heart is blocked.

Blood Pressure

The pressure of circulating blood against the walls of blood vessels, considered vital for human life.

High-density Lipoprotein

Often referred to as "good" cholesterol, it helps to remove other forms of cholesterol from the bloodstream.