Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August,...

Question

Question

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August,...

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $140,000 for materials and $320,000 for conversion costs. P-11 has a sales value of $712,000 and P-12 has a sales value of $178,000.

Required

Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.)

P-11

P-12

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Add a comment

Answer 2

Similar Homework Help Questions

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August,...

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $140,000 for materials and $300,000 for conversion costs. P-11 has a sales value of $640,000 and P-12 has a sales value of $160,000. Required: Using the net realizable value method, assign costs to P-11 and P-12 for August.
Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August,...

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $165,000 for materials and $330,000 for conversion costs. P-11 has a sales value of $648,000 and P-12 has a sales value of $162,000. Required: Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.) Cost Assigned P-11 P-12
Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August,...

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $165,000 for materials and $300,000 for conversion costs. P-11 has a sales value of $672,000 and P-12 has a sales value of $168,000. Required: Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round intermediate calculations.) Cost Assigned P-11 P-12

Please also explain how you got the numbers, thanks! Exercise 11-37 Net Realizable Value Method (LO...

Please also explain how you got the numbers, thanks! Exercise 11-37 Net Realizable Value Method (LO 11-7) Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $165,000 for materials and $310,000 for conversion costs. P-11 has a sales value of $656,000 and P-12 has a sales value of $164,000. Required Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round...
player.meducation.com Homepage - DSC-304-04-05 Production Connect -Class: Noland ACC 308 Fall 2019 MHE Reader a A...

player.meducation.com Homepage - DSC-304-04-05 Production Connect -Class: Noland ACC 308 Fall 2019 MHE Reader a A 6 Euclid Corporation processes a patented chemical, P-I, and produces two outputs, P.11 and 12. In August, the costs to process PI are $144,000 for materials and $288.000 for conversion costs. P-11 has a sales value of $640,000 and P-12 has a sales value of $160,000. Required Using the net realizable value method, assign costs to P11 and P-12 for August. 11-44. Estimated Net...
Davenport Company buys Alpha-11 for $6 a gallon. At the end of distilling in Department A,...

Davenport Company buys Alpha-11 for $6 a gallon. At the end of distilling in Department A, Alpha-11 splits off into three products: Beta-1, Beta-2, and Beta-3. Davenport sells Beta-1 at the split-off point, with no further processing; it processes Beta-2 and Beta-3 further before they can be sold. Beta-2 is fused in Department B, and Beta-3 is solidified in Department C. Following is a summary of costs and other related data for the year ended November 30. Department (1) Distilling...

Davenport Company buys Alpha-11 for $6 a gallon. At the end of distilling in Department A,...

Davenport Company buys Alpha-11 for $6 a gallon. At the end of distilling in Department A, Alpha-11 splits off into three products: Beta- 1, Beta-2, and Beta-3. Davenport sells Beta-1 at the split-off point, with no further processing; it processes Beta-2 and Beta-3 further before they can be sold. Beta-2 is fused in Department B, and Beta-3 is solidified in Department C. Following is a summary of costs and other related data for the year ended November 30. (1) Distilling...
12 West Coast Designs produces three products: super, deluxe, and generic. Super and deluxe are its...

12 West Coast Designs produces three products: super, deluxe, and generic. Super and deluxe are its main products, generic is a by- product of super. Information on the past month's production processes follows. 0.76 points • In Department A, 264,000 units of the raw material X-1 are processed at a total cost of $314,948. After processing in Department A, 50 percent of the units are transferred to Department B, and 50 percent of the units (now unprocessed deluxe) are transferred...
Eastern Chemical Company produces three products. The operating results of the current year are: Product Sales...

Eastern Chemical Company produces three products. The operating results of the current year are: Product Sales Quantity Target Price Actual Price Difference A 1,950.00 $ 303.00 $ 304.00 $ 1.00 B 9,750.00 315.60 273.60 (42.00 ) C 975.00 220.50 328.00 $ 107.50 The firm sets the target price of each product at 150% of the product’s total manufacturing cost. It appears that the firm was able to sell Product C at a much higher price than the target price of...

Eastern Chemical Company produces three products. The operating results of the current year are: Product A...

Eastern Chemical Company produces three products. The operating results of the current year are: Product A B с Sales Quantity Target Price Actual Price 1,100.00 $ 286.00 $ 287.00 5,500.00 298. 60 256. 60 550.00 203.50 311.00 Difference $ 1.00 (42.00) $ 107.50 The firm sets the target price of each product at 150% of the product's total manufacturing cost. It appears that the firm was able to sell Product Cat a much higher price than the target price of...

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August,...

Homework Answers