dont give amswer in image format view ronciesShow Attempt HistoryCurrent Attempt in ProgressWindsor Inc. is in the corn-milling industry but to date has had only enough manufacturing space for one joint process. Windsor refersto its two products as prime products and by-products. There is a market for both products, but, as the names imply, the primeproducts are what Windsor got into business to sell, as the prime products' sales price far exceeds that of the by-products. In a typicalproduction run, which costs $66,000, Windsor Inc. produces the following products, which can be sold at the prices shown.Prime productsBy-productsQuantity Produced Sales Price per Ton$50$5(a)1,700 tons.940 tonsBecause Windsor's customers (the corn processors) count on purchasing top-quality raw material from Windsor, it is important thatthe company maintains a steady amount of inventory. For this reason, Windsor never completely sells out of its products. For thecurrent production run, managers plan to sell 80% of each product immediately, holding 20% in inventory to carry into the next period.Your answer is partially correct.Record the journal entries to recognize the completion of the products through the sale of both products if the productionmethod is used to account for by-products. (Credit account titles are automatically indented when the amount is entered. Do not indentmanually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit view ronciesShow Attempt HistoryCurrent Attempt in ProgressWindsor Inc. is in the corn-milling industry but to date has had only enough manufacturing space for one joint process. Windsor refersto its two products as prime products and by-products. There is a market for both products, but, as the names imply, the primeproducts are what Windsor got into business to sell, as the prime products' sales price far exceeds that of the by-products. In a typicalproduction run, which costs $66,000, Windsor Inc. produces the following products, which can be sold at the prices shown.Prime productsBy-productsQuantity Produced Sales Price per Ton$50$5(a)1,700 tons.940 tonsBecause Windsor's customers (the corn processors) count on purchasing top-quality raw material from Windsor, it is important thatthe company maintains a steady amount of inventory. For this reason, Windsor never completely sells out of its products. For thecurrent production run, managers plan to sell 80% of each product immediately, holding 20% in inventory to carry into the next period.Your answer is partially correct.Record the journal entries to recognize the completion of the products through the sale of both products if the productionmethod is used to account for by-products. (Credit account titles are automatically indented when the amount is entered. Do not indentmanually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit

JOURNAL ENTRIES The first step in the process of accounting is to make a journal entry. Keeping a…

Windsor Inc. is in the corn-milling industry but to date has had only enough manufacturing space for one joint process. Windsor refers to its two products as prime products and by-products. There is a market for both products, but, as the names imply, the prime products are what Windsor got into business to sell, as the prime products' sales price far exceeds that of the by-products. In a typical production run, which costs $66,000, Windsor Inc. produces the following products, which can be sold at the prices shown.

Windsor Inc. is in the corn-milling industry but to date has had only enough manufacturing space for one joint process. Windsor refers to its two products as prime products and by-products. There is a market for both products, but, as the names imply, the prime products are what Windsor got into business to sell, as the prime products' sales price far exceeds that of the by-products. In a typical production run, which costs $66,000, Windsor Inc. produces the following products, which can be sold at the prices shown.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 1TIF

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