What is downstreams income statement for the period

Reference no: EM132757772

Question: Downstream Brewery (B)

Lawrence Grasso and Cindy Moeckel

The small faucet to the right of your desk emitted a sputtering sound and bursts of white foam, rather than the liquid gold you'd become accustomed to. Well, I guess that means I can retire the Downstream Brewery file, kegs and all, you thought. You could not have been more wrong. Well, technically, yes, you could. But this was wrong enough, because as you turned off the tap you had installed in your office, you noticed a distraught C.D. Cervesa entering your office door.

Required: In answering the following questions, give C.D. sufficient details so that you can retire from this job in the near future and C.D. can continue without you.

1. Using three processes of Boiling, Fermenting, and Shipping, what journal entries should be made to record this period's activities?

2. What is Downstream's income statement for the period?

3. What is C.D.'s cost per barrel?

4. What is the value of the inventory?

Reference no: EM132757772

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