Question
During the month 100,000 pounds of materials were processed. Of this, 90,000 of main product were transferred to the next department, and 10,000 pounds of
During the month 100,000 pounds of materials were processed. Of this, 90,000 of main product were transferred to the next department, and 10,000 pounds of by-product were recovered. The by product can be sold for .02 per pound.
What is the journal entry to account for the by-product if they treat the market value of the byproduct as misc. income?
| Date | Account | Debit | Credit |
| 1/31/xx |
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What is the journal entry if they treat the market value of the by-product as a reduction to the work in process of the current department (Mixing)?
| Date | Account | Debit | Credit |
| 1/31/xx |
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What is the cost per unit of the main product if they treat the market value of the byproduct as misc. income? _____________________
What is the cost per unit of the main product if they treat the market value of the by-product as a reduction to the work in process of the current department (Mixing) ________________________
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Public Sector Accounting And Budgeting For Non-Specialists
Authors: G. Jan Van Helden, Ron Hodges
1st Edition
1137376988, 9781137376985
