Bismite Corporation Purchases Trees from Cheney Lumber and Processes Them

question 71

Multiple Choice

Bismite Corporation purchases trees from Cheney lumber and processes them up to the split-off point where two products (paper and pencil casings) emerge from the process. 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 October:

The cost of purchasing 310 trees and processing them up to the split-off point to yield 190,000 sheets of paper and 190,000 pencil casings is $13,500.
Bismite's accounting department reported no beginning inventory.
If the sales value at split-off method is used, what are the approximate joint costs assigned to ending inventory for paper? (Round intermediary percentages to the nearest hundredth.)

• A) $355.29
• B) $29.61
• C) $497.34
• D) $379.24

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Definitions:

Cognitive Development

The process by which individuals acquire and understand knowledge through thought, experience, and the senses.

Learning Processes

The methods or pathways through which individuals acquire knowledge, skills, values, and attitudes, enabling them to understand and adapt to the world.

Adult and Peer Influences

The impact and effect that adults and peers have on an individual's behavior, attitudes, and development.

Bayley Scales

A set of standardized tests used primarily to assess the development of infants and toddlers, covering areas such as motor, cognitive, and language skills.