FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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?

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