Correct Answer Euclid Corporation processes a patented chemical, P-1,and produces two outputs, P-11, and P-12. In August, thecosts to process P-1 are $152,000 for materials and$290,000 for conversion costs. P-11 has a sales value of$643,000 and P-12 has a sales value of $172,000.Using the net realizable value method, assign costs to P-11 and P-12 for August.

Step 1:First, calculate the total joint cost: Total joint cost = Direct materials + Conversion costs…

Answered: Euclid Corporation processes a patented…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter5: Support Department And Joint Cost Allocation

Section: Chapter Questions

Problem 4CMA: Tucariz Company processes Duo into two joint products, Big and Mini. Duo is purchased in...

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Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $165,000 for materials and $280,000 for conversion costs. P-11 has a sales value of $648,000 and P-12 has a sales value of $162,000. Required: Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.) Cost Assigned P-11 P-12
Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $165,000 for materials and $330,000 for conversion costs. P-11 has a sales value of $712,000 and P-12 has a sales value of $178,000. Required: Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.)
Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $144,000 for materials and $288,000 for conversion costs. P-11 has a sales value of $640,000 and P-12 has a sales value of $160,000. Required Using the net realizable value method, assign costs to P-11 and P- 12 for August.
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