Answer the Following Questions Using the Information Below

question 118

Multiple Choice

Answer the following questions using the information below:
Yakima Manufacturing purchases trees from Cheney Lumber and processes them up to the splitoff point where two products (paper and pencil casings) are obtained.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 November:
The cost of purchasing 100 trees and processing them up to the splitoff point to yield 60,000 sheets of paper and 60,000 pencil casings is $3,000.Yakima's accounting department reported no beginning inventories and an ending inventory of 2,000 sheets of paper.
-If the sales value at splitoff method is used, what are the approximate joint costs assigned to ending inventory for paper?

• A)$28.58
• B)$100.00
• C)$870.00
• D)$1,500.00
• E)$80.00

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Definitions:

Slave Labor

Involves the enforced work performed by enslaved individuals, often without pay, under threat of violence or some form of penalty.

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Structures that are owned and operated by the government, serving as venues for official business and public services.

Washington, D.C.

The capital city of the United States, serving as the seat of its three branches of government and a symbol of the nation.

Edmond-Charles Genet

A French diplomat known for his role during the French Revolution, particularly for his efforts to recruit American support for France's wars against Britain and Spain in the 1790s.