Question: Exercise 11-43 (Algo) Net Realizable Value Method (LO 11-7) Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August,

Exercise 11-43 (Algo) Net Realizable Value Method (LO 11-7) Euclid Corporation

Exercise 11-43 (Algo) Net Realizable Value Method (LO 11-7) 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 $165,000 for materials and $280,000 for conversion costs. P-11 has a sales value of $704,000 and P-12 has a sales value of $176,000. 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

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