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How much will product y report in the balance sheet

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Reference no: EM132706257

Torid Company processes 17,500 gallons of direct materials to produce two products, Product X and Product Y. Product X sells for $5 per gallon and Product Y, the main product, sells for $150 per gallon. The following information is for December:

                                                                      Beginning                Ending
                      Production     Sales            Inventory            Inventory
Product X:     5,375            5,300                 0                  75
Product Y:      9,975           9,990                 25                  10

The manufacturing costs totalled $25,000

Problem 1: How much will Product Y report in the balance sheet at the production method?

Reference no: EM132706257

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