Torid Company processes 17,650 gallons of direct materials to produce two products, Product X and Product Y. Product X sells for $5 per gallon and Product Y, the main product, sells for $200 per gallon. The following information is for December: Product X: Product Y: Production $27,000 $25,000 $27,625 $625 5525 9975 Sales 5400 10,025 Beginning Inventory 0 100 Ending Inventory 125 50 The manufacturing costs totalled $32,000. Under production method, Product X NRV would be offset against the costs of Product Y by
Torid Company processes 17,650 gallons of direct materials to produce two products, Product X and Product Y. Product X sells for $5 per gallon and Product Y, the main product, sells for $200 per gallon. The following information is for December: Product X: Product Y: Production $27,000 $25,000 $27,625 $625 5525 9975 Sales 5400 10,025 Beginning Inventory 0 100 Ending Inventory 125 50 The manufacturing costs totalled $32,000. Under production method, Product X NRV would be offset against the costs of Product Y by
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A28
![Torid Company processes 17,650 gallons of direct materials to produce two products, Product X and
Product Y. Product X sells for $5 per gallon and Product Y, the main product, sells for $200 per gallon. The
following information is for December:
Product X:
Product Y:
Production
5525
9975
$27,000
$25,000
$27,625
$625
Sales
5400
10,025
Beginning
Inventory
0
100
Ending
Inventory
125
50
The manufacturing costs totalled $32,000.
Under production method, Product X NRV would be offset against the costs of Product Y by](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9fe591d1-b20e-4716-b178-bb74293a145f%2F62c53756-f7b3-4e0d-b315-4cff01d75d39%2Fcfyi6bn_processed.png&w=3840&q=75)
Transcribed Image Text:Torid Company processes 17,650 gallons of direct materials to produce two products, Product X and
Product Y. Product X sells for $5 per gallon and Product Y, the main product, sells for $200 per gallon. The
following information is for December:
Product X:
Product Y:
Production
5525
9975
$27,000
$25,000
$27,625
$625
Sales
5400
10,025
Beginning
Inventory
0
100
Ending
Inventory
125
50
The manufacturing costs totalled $32,000.
Under production method, Product X NRV would be offset against the costs of Product Y by
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