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15.) Torid Company processes 18,175 gallons of direct materials to produce two products, Product X and Product Y. Product X sells for $6 per gallon
15.) Torid Company processes 18,175 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 $190 per gallon. The following information is for December: Beginning Ending Production Sales Inventory Inventory Product X: 5550 5400 I 0 150 Product Y: 10,475 10,505 50 20 The manufacturing costs totalled $29,000. * If the byproduct inventory is recorded at NRV less profit margin of 40%, the balance sheet will report of byproduct inventory. (2 Points) The value must be a number
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