Torid Company processes 18,700 gallons of direct materials to produce two products, Product X and Product Y. Product X sells for $10 per gallon and Product Y, the main product, sells for $150 per gallon. The following information is for December: Beginning Ending Production Sales Inventory Inventory Product X: 5,975 5,800 0 175 Product Y: 10,575 10,655 100 20 The manufacturing costs totaled $30,000. How much is the ending inventory for the byproduct if byproducts are recognized in the general ledger at the point of sale?
Torid Company processes 18,700 gallons of direct materials to produce two products, Product X and Product Y. Product X sells for $10 per gallon and Product Y, the main product, sells for $150 per gallon. The following information is for December:
Beginning Ending
Production Sales Inventory Inventory
Product X: 5,975 5,800 0 175
Product Y: 10,575 10,655 100 20
The
How much is the ending inventory for the byproduct if byproducts are recognized in the general ledger at the point of sale?
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