The Method of Accounting for Joint Product Costs That Will

question 118

Multiple Choice

The method of accounting for joint product costs that will produce the same gross margin percentage for all products is the:

• A) replacement method.
• B) physical quantities method.
• C) net realizable value method.
• D) units produced methoD.
• Under net realizable value,the cost allocated is a constant percentage of the sales value so each product will have the same gross margin percentage.

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Definitions:

Ocular Lens

The lens closest to the eye in a microscope or telescope, through which the viewer looks to magnify the image formed by the objective lens.

Objective Lens

The part of a microscope or telescope that is closest to the object being observed, focusing light and creating an initial image.

Oil-Immersion Lens

A microscope lens designed to be used with a drop of oil between the lens and the slide, improving resolution by reducing light refraction.

Fine Focus Knob

A control mechanism on microscopes used to make precise adjustments to the focus, sharpening the image of the specimen.