ExxonMobil processes crude oil and generates by products In February 2043, the following data is provided Beginning Work in Process 10,000 barrels (60 complete) Units Started 90,000 barrels Ending Work in Process 15,000 barrels (40 complete) Total Costs $15,000,000 By products Revenue $500,000 Requ...

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ExxonMobil processes crude oil and generates by-products. In February 2043, the following data is provided: Beginning Work-in-Process:

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ExxonMobil processes crude oil and generates by-products. In February 2043, the following data is provided:

Beginning Work-in-Process: 10,000 barrels (60% complete)
Units Started: 90,000 barrels
Ending Work-in-Process: 15,000 barrels (40% complete)
Total Costs: $15,000,000
By-products Revenue: $500,000

Requirements:

Calculate the equivalent units of production.
Determine the cost per equivalent unit.
Prepare a production cost report.
Allocate by-product revenue to main product costs.

Related Book For answer-question

Cost Accounting For Managerial Planning Decision Making And Control

ISBN: 9781516551705

6th Edition

Authors: Woody Liao, Andrew Schiff, Stacy Kline

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Posted Date: Jun 03, 2024 04:36 AM

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ExxonMobil processes crude oil and generates by-products. In February 2043, the following data is provided: Beginning Work-in-Process:

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Cost Accounting For Managerial Planning Decision Making And Control

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