The joint product costing method that produces the same gross profit percentage for all products as...
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The joint product costing method that produces the same gross profit percentage for all products as known as:
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a. Split-off costing method:
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b. Market value method
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c. Actual costing method
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d. Physical measure method
Homework Answers
OPTION B: Market value method
EXPLANATION:
as joint costs are allocated based on the sales value, the ratio of sales value to joint cost allocated is the same for all products which result in same gross profit percentage for all products.
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