Euclid Corporation processes a patented chemical, P1, and produces two outputs, P.11 and P-12. In August, the costs to process P-1 are $190,000 for materials and $340,000 for conversion costs. P.11 has a sales value of $664,000 and P-12 has a sales value of $166,000 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, P1, and produces two outputs, P.11 and P-12. In August, the costs to process P-1 are $190,000 for materials and $340,000 for conversion costs. P.11 has a sales value of $664,000 and P-12 has a sales value of $166,000 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
$190,000 for materials and $340,000 for conversion costs. P 11 has a sales value of $664,000 and P-12 has a sales value of $166,000.
Required:
Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.)
Cost Assigned
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P-11,
P-12
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Transcribed Image Text:V.
P
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MI
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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
$190,000 for materials and $340,000 for conversion costs. P 11 has a sales value of $664,000 and P-12 has a sales value of $166,000.
Required:
Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.)
Cost Assigned
SƏ
P-11,
P-12
< Prev
3 of 4
pe here to search
五
PrtSc
F11
F12
+D
-3
F10
sus
因
F7
F8
F5
反
&
%23
8.
6.
5.
9.
H.
B.
Alt
Alt
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