Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Lond Company produces joint products Jana and Reta and by-product Bynd Jana is sold at spl...

Lond Company produces joint products Jana and Reta and by-product Bynd Jana is sold at split-off Reta and Bynd undergo additional processing Production data

Lond Company produces joint products Jana and Reta, and by-product Bynd. Jana is sold at split-off; Reta and Bynd undergo additional processing. Production data pertaining to these products for the year ended December 31, 2010, were as follows:  Lond had no beginning or ending inventories and no materials were spoiled in production. Bynd s net realizable value is deducted from joint costs. Joint costs are allocated to joint products to achieve the same gross margin percentage for each joint product. Required Prepare the following information for Lond Company for the year ended December 31, 2010: 1. Total gross margin. 2. Allocation of joint costs to Jana and Reta. 3. Separate gross margins for Jana and Reta. (CMAAdapted)

Apr 24 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions