Higgins Company, a full cost company located in Texas, sold 3,000 (gross) Mcf of gas with a

Question:

Higgins Company, a full cost company located in Texas, sold 3,000 (gross) Mcf of gas with a heat content of 1.035 MMBtu/Mcf. The selling price of the gas was

$9.00/MMBtu.

REQUIRED:

a. Determine the MMBtus for the gas sold.

b. Determine the total sales price.

c. Determine the unit sales price per Mcf.

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Related Book For answer-question

Fundamentals Of Oil And Gas Accounting

ISBN: 9781593703639

6th Edition

Authors: Charlotte Wright

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Question Posted: Mar 08, 2024 10:01 AM

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Higgins Company, a full cost company located in Texas, sold 3,000 (gross) Mcf of gas with a

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Step by Step Answer:

Fundamentals Of Oil And Gas Accounting

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