Answer:
$348,000 and $87,000
Explanation:
According to the scenario, computation of the given data are as follow:-
We can calculate the assign cost for august by using following formula:-
Total Joint Cost = P1 Material Cost + P1 Conversion Cost
= $165,000 + $270,000
= $435,000
Cost Assigned to P11
= Sales Value of P11 ÷ (Sales Value of P11 + Sales Value of P12) × Total Joint Cost
= $648,000 ÷ ($648,000 + $162,000) × $435,000
= $648,000 ÷ $810,000 × $435,000
= 0.8 × $435,000
= $348,000
Cost Assigned to P12
= Sales Value of P12 ÷ (Sales Value of P11 + Sales Value of P12) × Total Joint Cost
= $162,000 ÷ ($648,000 + $162,000) × $435,000
= $162,000 ÷ $810,000 × $435,000
= 0.2 × $435,000
= $87,000
The joint cost is the cost of two or more products to make a single product. It includes the product cost like direct material, direct labor, etc
