1 .		The costs of production that yield multiple products simultaneously are known as [Hint]   byproduct costs.   separable costs.   manufacturing costs.   joint costs.
2 .		A product produced in a joint process that has a low sales value is known as a(n) [Hint]   main product.   byproduct.   joint product.   primary product.
3 .		A method of allocating joint costs that uses volume would be the [Hint]   net realizable value method.   sales value at splitoff method.   constant gross-margin percentage NRV method.   physical measures method.
4 .		Oily Slime buys Emils, which is produced until two products can be separated, Ems and Ils. The cost of processing Emils to the split-off point is $50,000. When the products can be identified, the following information is available: Production Sales value at splitoff Ems 20,000 units $5 per unit ILs 25,000 units $6 per unit If the firm uses the Sales value at splitoff method, how much of the joint processing cost should be allocated to Ems? [Hint]   $20,000   $25,000   $30,000   $50,000
5 .		Oily Slime buys Emils, which is produced until two products can be separated, Ems and Ils. The cost of processing Emils to the split-off point is $50,000. When the products can be identified, the following information is available: Production Sales value at splitoff Ems 20,000 units $5 per unit ILs 25,000 units $6 per unit If the firm uses the physical units method, how much of the joint processing cost should be allocated to Ils? [Hint]   $20,000   $22,222   $27,778   $30,000
6 .		Oily Slime buys Emils, which is produced until two products can be separated, Ems and Ils. The cost of processing Emils to the split-off point is $50,000. When the products can be identified, the following information is available: Production Sales value at splitoff Ems 20,000 units $5 per unit ILs 25,000 units $6 per unit If the firm uses the physical units method, what is the joint production cost per unit of Ils? [Hint]   $0.89   $1.00   $1.11   $2.00
7 .		Oily Slime buys Emils, which is produced until two products can be separated, Ems and Ils. The cost of processing Emils to the split-off point is $50,000. When the products can be identified, the following information is available: Production Sales value at splitoff Ems 20,000 units $5 per unit ILs 25,000 units $6 per unit If the firm uses the Sales value at splitoff method, how much is the joint processing cost per unit of Ems? [Hint]   $0.83   $1.00   $1.11   $2.00
8 .		Oily Slime buys Emils, which is produced until two products can be separated, Ems and Ils. The cost of processing Emils to the split-off point is $50,000. When the products can be identified, the following information is available: Production Sales value at splitoff Ems 20,000 units $5 per unit ILs 25,000 units $6 per unit Both Ems and Ils can be processed further. Ems can be processed into 40,000 units of Sme with at an additional cost of $30,000. It can then be sold for $7.50 per unit. Ils can be processed further into 25,000 units of Sli at an additional cost of $50,000. Sli can be sold for $10.00 per unit. If the firm uses the net realizable value method, the joint processing costs allocated to Sli will beadd [Hint]   $21,277.   $22,727.   $27,273.   $28,723.
9 .		If the information is available such that any allocation method is available, the preferred method for allocation is the [Hint]   physical measures.   sales value at splitoff.   net realizable value.   constant gross-margin percentage NRV.
10 .		The sales method for byproducts recognizes the product in the books when the product is [Hint]   raw materials.   produced.   sold.   destroyed.