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Monroe Materials processes a purchased material, PM-20, and produces three outputs, Alpha, Beta, and Gamma. In February, the costs to process PM-20 are $924,000 for materials and $516,000 for conversion costs. The results of the processing follow: Alpha Beta Gamma Units Produced 29,000 Sales Value per Unit $ 9.60 23,200 5,800 18.00 80.00 Required: Assign costs to Alpha, Beta, and Gamma for February using the net realizable value method. Product Cost Assigned Alpha Beta Gamma Total $ 0

Monroe Materials processes a purchased material, PM-20, and produces three outputs, Alpha, Beta, and Gamma. In February, the costs to process PM-20 are $924,000 for materials and $516,000 for conversion costs. The results of the processing follow: Alpha Beta Gamma Units Produced 29,000 Sales Value per Unit $ 9.60 23,200 5,800 18.00 80.00 Required: Assign costs to Alpha, Beta, and Gamma for February using the net realizable value method. Product Cost Assigned Alpha Beta Gamma Total $ 0

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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Monroe Materials processes a purchased material, PM-20, and produces three outputs, Alpha, Beta, and Gamma. In February, the costs to process PM-20 are $924,000 for materials and $516,000 for conversion costs. The results of the processing follow: Alpha Beta Gamma Units Produced 29,000 Sales Value per Unit $ 9.60 23,200 5,800 18.00 80.00 Required: Assign costs to Alpha, Beta, and Gamma for February using the net realizable value method. Product Cost Assigned Alpha Beta Gamma Total $ 0
Transcribed Image Text:Monroe Materials processes a purchased material, PM-20, and produces three outputs, Alpha, Beta, and Gamma. In February, the costs to process PM-20 are $924,000 for materials and $516,000 for conversion costs. The results of the processing follow: Alpha Beta Gamma Units Produced 29,000 Sales Value per Unit $ 9.60 23,200 5,800 18.00 80.00 Required: Assign costs to Alpha, Beta, and Gamma for February using the net realizable value method. Product Cost Assigned Alpha Beta Gamma Total $ 0
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