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Torld Company processes 18,350 gallons of direct materials to produce two products, Product X and Product Y Product X sells for $6 per gallon and Product Y, the main product, sells for $200 per gallon. The following information is for December Product X Product Y A. $750 Production 5,925 10,275 OB. 50 OC. $25,000 OD. $6,000 Sales 5,800 10,320 The manufacturing costs totalled $30,000. How much is the ending inventory for the byproduct if byproducts are recognized in the general ledger at the point of sale? CTTID Beginning Inventory 0 75 Ending Inventory 125 30

Torld Company processes 18,350 gallons of direct materials to produce two products, Product X and Product Y Product X sells for $6 per gallon and Product Y, the main product, sells for $200 per gallon. The following information is for December Product X Product Y A. $750 Production 5,925 10,275 OB. 50 OC. $25,000 OD. $6,000 Sales 5,800 10,320 The manufacturing costs totalled $30,000. How much is the ending inventory for the byproduct if byproducts are recognized in the general ledger at the point of sale? CTTID Beginning Inventory 0 75 Ending Inventory 125 30

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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Torid Company processes 18,350 gallons of direct materials to produce two products, Product X and Product Y Product X sells for $6 per gallon and Product Y, the main product, sells for $200 per gallon. The following information is for December Product X Product Y A. $750 Production 5,925 10,275 OB. 50 OC. $25,000 OD. $6,000 Sales 5,800 10,320 SOTED Beginning Inventory The manufacturing costs totalled $30,000. How much is the ending inventory for the byproduct if byproducts are recognized in the general ledger at the point of sale? 0 75 Ending Inventory 125 30
Transcribed Image Text:Torid Company processes 18,350 gallons of direct materials to produce two products, Product X and Product Y Product X sells for $6 per gallon and Product Y, the main product, sells for $200 per gallon. The following information is for December Product X Product Y A. $750 Production 5,925 10,275 OB. 50 OC. $25,000 OD. $6,000 Sales 5,800 10,320 SOTED Beginning Inventory The manufacturing costs totalled $30,000. How much is the ending inventory for the byproduct if byproducts are recognized in the general ledger at the point of sale? 0 75 Ending Inventory 125 30
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