Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August,...

Transcribed Image Text:

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $140,000 for materials and $270,000 for conversion costs. P-11 has a sales value of $696,000 and P-12 has a sales value of $174,000 Required: Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round Intermediate calculations.) Cost Assigned P-11 P-12 Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $140,000 for materials and $270,000 for conversion costs. P-11 has a sales value of $696,000 and P-12 has a sales value of $174,000 Required: Using the net realizable value method, assign costs to P-11 and P-12 for August. (Do not round Intermediate calculations.) Cost Assigned P-11 P-12

Answer rating: 100% (QA)

Total joint costs are 445000 based on the 165000 m... View the full answer