Benjamin Signal Company Produces Products R,J,and C from a Joint

question 88

Essay

Benjamin Signal Company produces products R,J,and C from a joint production process.Each product may be sold at the split-off point or be processed further.Joint production costs of $92,000 per year are allocated to the products based on the relative number of units produced.Data for Benjamin's operations for the current year are as follows:

Product R can be processed beyond the split-off point for an additional cost of $26,000 and can then be sold for $105,000.Product J can be processed beyond the split-off point for an additional cost of $38,000 and can then be sold for $117,000.Product C can be processed beyond the split-off point for an additional cost of $12,000 and can then be sold for $57,000.
Required:
Which products should be processed beyond the split-off point?

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Definitions:

Laspeyres Price Index

A measure of the change in the overall price of a specific set of goods and services over time, using the quantities of the goods and services purchased in the base period.

Consumption Bundle

A combination of goods and services that a consumer chooses to consume at a given time.

Prices

The total monetary value expected, called for, or delivered in payment for an object.

Laspeyres Price Index

A price index used to measure the change in the cost of purchasing a fixed basket of goods and services over time, based on the quantities purchased in the base period.