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General Chemical Company (GCC) manufactures two products as part of a joint process: A1 and B1.Joint costs up to the split-off point total $22,000.The joint costs are allocated to A1 and B1 in proportion to their relative sales values.At the split-off point,product A1 can be sold for $42,000,whereas product B1 can be sold for $63,000.Product A1 can be processed further to make product A2,at an incremental cost of $38,000.A2 can be sold for $85,000.Product B1 can be processed further to make product B2,at an incremental cost of $48,000.B2 can be sold for $95,000.
-Joint costs allocated to product B1 total:
Penetration Pricing
A pricing strategy that involves setting lower than normal prices for a new product or service to attract customers away from competitors.
Profitability Objectives
Common objectives included in the strategic plans of most companies.
Volume Objectives
Targets set by a business regarding the amount of product it plans to sell or produce within a specific timeframe.
Nonpersonal Selling
Marketing or promotional activities that do not involve direct face-to-face interaction with customers, such as advertising, social media, or email marketing.
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