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SPY Company processes 30,000 gallons of direct materials to produce two products, Product X and Product Y. Product X, the byproduct, sells for $2 per
SPY Company processes 30,000 gallons of direct materials to produce two products, Product X and Product Y. Product X, the byproduct, sells for $2 per gallon and Product Y, the main product, sells for $50 per gallon. The following information is for August: The manufacturing costs totaled $30,000. How much is the cost of goods sold in August if byproducts are recognized in the general ledger at the point of sales? $18,000$30,000$22,000 non of the answers. $26,000
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