Joplin Corporation Produces Three Products from a Common Manufacturing Process

question 2

Essay

Joplin Corporation produces three products from a common manufacturing process.The total joint cost of producing 2,000 pounds of Product A;1,000 pounds of Product B;and 1,000 pounds of Product C is $7,500.Selling price per pound of the three products are $15 for Product A;$10 for Product B;and $5 for Product C.Joint cost is allocated using the sales value method.
Required:
a.Compute the unit cost of Prochuct A if all three products are main products
b. Compute the unit cost of Prochict A if Products A and B are main products and Product C is a by-prochuct for which the cost reduction method is used

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Definitions:

Olecranon

The bony prominence of the elbow, on the upper end of the ulna, that forms the point of the elbow.

Tibial Tuberosity

A prominent bony structure on the anterior portion of the tibia, below the knee, where the patellar ligament attaches.

Intercondylar Eminence

A projection located on the tibial plateau between the medial and lateral condyles, serving as an attachment point for ligaments in the knee joint.

Lateral Condyle

The outer part of the condyle, which is the round prominence at the end of a bone, most commonly referred to in the context of the knee joint.