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Assume that an industrial company producing two products x and y with the following cost and production data Y Direct 70$ 90 $ materials per unit

Assume that an industrial company producing two products x and y with the following cost and production data Y Direct 70$ 90 $ materials per unit

FINANCIAL ACCOUNTING
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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Assume that an industrial company producing two products x and y with the following cost and production data Y Direct 70$ 90 $ materials per unit Direct wages 50$ 50 $ per unit Indirect ? ? industrial costs per unit Production 1200 8000 and sales unit unit volume Costs are charged to industrial costs on the basis of 200% of direct wages. The company also uses the + surplus model (30% of industrial costs, setting selling prices for products Required: - Determine the current selling price of each producer (x) and (y)
Transcribed Image Text:Assume that an industrial company producing two products x and y with the following cost and production data Y Direct 70$ 90 $ materials per unit Direct wages 50$ 50 $ per unit Indirect ? ? industrial costs per unit Production 1200 8000 and sales unit unit volume Costs are charged to industrial costs on the basis of 200% of direct wages. The company also uses the + surplus model (30% of industrial costs, setting selling prices for products Required: - Determine the current selling price of each producer (x) and (y)
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