Russell Co

question 17

Multiple Choice

Russell Co.produces three products - U,V,and W - from a joint process.Each product may be sold at the split-off point or processed further.Additional processing requires no special facilities,and production costs of further processing are entirely variable and traceable to the products involved.Last year all three products were processed beyond split-off.Joint production costs for the year were $70,000.Sales values and costs needed to evaluate Russell's production policy follow.
The amount of joint costs allocated to product V using the net realizable value method is (calculate all ratios and percentages to 4 decimal places,for example 33.3333%,and round all dollar amounts to the nearest whole dollar) :

• A)$24,159.
• B)$28,496.
• C)$18,624.
• D)$17,345.
• E)$32,110.

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Definitions:

Interest

The cost of borrowing money or the return earned on investments, calculated as a percentage of the principal amount.

Accounting Methods

Accounting methods are the specific rules and procedures used by businesses to record and report their financial transactions.

Persuasively Argued

Effectively presented reasoning or argumentation that convincingly supports a particular position or point of view.

Financial Information

Data regarding the financial status of an entity, including assets, liabilities, revenues, expenses, and equity, among other financial metrics.