Third step in constant gross margin percentage NRV Method to allocate joint cost is to compute
A. Gross margin percentage
B. total production cost of each product
C. allocated joint costs
D. cost of split off point
Answer: Option C
Solution(By Examveda Team)
Third step in constant gross margin percentage NRV Method to allocate joint cost is to compute allocated joint costs.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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