A granary allocates the cost of unprocessed wheat to the production of feed, flour, and starch. For the current period, unprocessed wheat was purchased for S 140,000, and the following quantities of product and sales revenues were produced. Product Pounds Price per pound Feed 110, 000 $ 0.80 Flour 50,000 2.20 Starch 20,000 1.10 How much of the $140, 000 cost should be allocated to flour if the value basis is used?

A granary allocates the cost of unprocessed wheat to the production of feed, flour, and starch. For the current period, unprocessed wheat was purchased for S 140,000, and the following quantities of product and sales revenues were produced. Product Pounds Price per pound Feed 110, 000 $ 0.80 Flour 50,000 2.20 Starch 20,000 1.10 How much of the $140, 000 cost should be allocated to flour if the value basis is used?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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